Price Level

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.

Read more about Price Level:  Theoretical Foundation, Significance

Famous quotes containing the words price and/or level:

    Surely the apple is the noblest of fruits. Let the most beautiful or the swiftest have it. That should be the “going” price of apples.
    Henry David Thoreau (1817–1862)

    Even a nine story pagoda must be built up level by level.
    Chinese proverb.