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:
“Nowadays people know the price of everything and the value of nothing.”
—Oscar Wilde (1854–1900)
“Even a nine story pagoda must be built up level by level.”
—Chinese proverb.