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:

    “One has to have run a household before one can know the price of rice and firewood, and one has to have raised children before one can understand a parent’s love.”
    —Chinese proverb.

    “On a level plain, simple mounds look like hills; and the insipid flatness of our present bourgeoisie is to be measured by the altitude of its “great intellects.””
    —Karl Marx (1818–1883)