RELATIVE PRICE
(noun)Definitions
There is 1 meaning of the phrase
Relative Price.
Relative Price - as a noun
The price of a commodity such as a good or service in terms of another; i.e., the ratio of two prices.
Example: "Inflation makes it difficult for economic agents to immediately distinguish increases in the price of a good which are due to relative price changes from changes in the price which are due to inflation of prices."
Example Sentences
"The relative price of oil has a significant impact on the global economy."
"When the relative price of a good increases, consumers tend to buy less of it."
"Investors often analyze the relative prices of stocks before making investment decisions."
"The relative price of organic food is usually higher than conventionally grown food."
"Changes in the relative price of currencies can affect international trade."
