Note: The translation for this entry is currently under quality review. Some content is temporarily displayed in English only.
basket of goods
A hypothetical set of consumer goods and services used as a representative sample to track price changes and calculate inflation or the cost of living.
Danh từ
Số nhiều: baskets of goods
This term is a technical economic construct rather than a literal container. It represents a weighted average of various products and services that reflect the spending habits of a specific population, serving as the primary mechanism for measuring inflation and purchasing power.
In professional financial reporting and academic economics, the term is used to describe the methodology of the Consumer Price Index (CPI). It is rarely used in casual conversation unless referring to the specific statistical tool used by governments to track the cost of living.
Ý nghĩa
Từ liên quan
indexportfoliocompositeinflationdeflationpriceeconomyconsumerspendingcostpurchasing powercommoditymarketweighted averagestatisticseconomicsbenchmarkvaluationretailwholesalesupplydemandcurrencyexchange ratefiscalmonetaryGDPstandard of livingcost of livingaggregatesampleweightingmeasurementmetrictrendfluctuationvolatilityassetdiversificationallocationbasketgoodserviceconsumptionexpenditurebudgetrevenueprofitmargindeflatorpurchasing power paritynominal valueadjustmentindexationconsumer price indexproducer price indexeconomic indicatormacroeconomicsmicroeconomicstradecommerceinventorystockprice level