What does relative price mean?
Definitions for relative price
rel·a·tive price
This dictionary definitions page includes all the possible meanings, example usage and translations of the word relative price.
Wikipedia
Relative price
A relative price is the price of a commodity such as a good or service in terms of another; i.e., the ratio of two prices. A relative price may be expressed in terms of a ratio between the prices of any two goods or the ratio between the price of one good and the price of a market basket of goods (a weighted average of the prices of all other goods available in the market). A relative price is an opportunity cost. Microeconomics can be seen as the study of how economic agents react to changes in relative prices, and of how relative prices are affected by the behavior of those agents.
Numerology
Chaldean Numerology
The numerical value of relative price in Chaldean Numerology is: 1
Pythagorean Numerology
The numerical value of relative price in Pythagorean Numerology is: 8
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"relative price." Definitions.net. STANDS4 LLC, 2024. Web. 29 Apr. 2024. <https://www.definitions.net/definition/relative+price>.
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