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Average price per unit and prices per statistical unit are needed by marketers who sell the same product in different packages, sizes, forms, or configurations at a variety of different prices. As in analyses of different channels, these product and price variations must be reflected accurately in overall average prices.
Unit price information printed on supermarket shelf labels (price tickets) illustrates the quantity of product by a unit of measure (price per 100 g, price per 100 ml). Unit pricing was originally designed as a device to enable customers to make comparisons between grocery products of different sizes and brand, hence enabling informed purchase ...
In France it used to be defined as 100 livres (pounds), about 48.95 kg (108 lb), and has been redefined as 100 kg (mesures usuelles), thus called metric quintal with symbol qq. In Spain , the quintal is still defined as 100 libras , or about 46 kg (101 lb), but the metric quintal is also defined as 100 kg; [ 3 ] In Portugal a quintal is 128 ...
Nominal GDP in a particular period reflects prices that were current at the time, whereas real GDP compensates for inflation. Price indices and the U.S. National Income and Product Accounts are constructed from bundles of commodities and their respective prices. In the case of GDP, a suitable price index is the GDP price index.
The pound or pound-mass is a unit of mass used in both the British imperial and United States customary systems of measurement.Various definitions have been used; the most common today is the international avoirdupois pound, which is legally defined as exactly 0.453 592 37 kilograms, and which is divided into 16 avoirdupois ounces. [1]
Converts measurements to other units. Template parameters [Edit template data] This template prefers inline formatting of parameters. Parameter Description Type Status Value 1 The value to convert. Number required From unit 2 The unit for the provided value. Suggested values km2 m2 cm2 mm2 ha sqmi acre sqyd sqft sqin km m cm mm mi yd ft in kg g mg lb oz m/s km/h mph K C F m3 cm3 mm3 L mL cuft ...
In economics, the market price is the economic price for which a good or service is offered in the marketplace. It is of interest mainly in the study of microeconomics. Market value and market price are equal only under conditions of market efficiency, equilibrium, and rational expectations. Market price is measured during a specific period of ...
A situation in which the supply of a good or service exceeds its demand within a particular market, often as a result of the current price being below the economic equilibrium. economic system. Also called an economic order. [147] A system of production, resource allocation, and distribution of goods and services within a society or a given ...