A price level is a hypothetical measure of overall prices for some set of goods and services, in a given region during a given interval, normalized relative to some base set. Typically, a price level is approximated with a price index.
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Famous quotes containing the words price and/or level:
“I sometimes think that the price of liberty is not so much eternal vigilance as eternal dirt.”
—George Orwell (1903–1950)
“We never exchange more than three words with a Friend in our lives on that level to which our thoughts and feelings almost habitually rise.”
—Henry David Thoreau (1817–1862)