A commodity bundle
is a point in the commodity space, [[Real part].
7) In this system the unit of account (UOA)--the unit in terms of which prices are quoted in most transactions--is based on a commodity bundle
defined quite broadly so that movements in the cost of one such composite-commodity bundle
closely represent movements in the "general price level.
We aggregate relative bases across the commodity bundle
to get the expected inflation rate for commodities.
The latter term is Niehans's; it means the commodity or commodity bundle
of which some specified quantity defines the unit of account [16, 1].
These poverty lines are based on per capita consumption levels associated with a commodity bundle
that yielded a specified level of caloric intake believed in 1973-74 to be appropriate for rural and urban areas (2,400 and 2,100 kilocalories per capita per day for the rural and urban areas, respectively).
In the space of functionings (which is compatible with variability in the space of resources), not in the space of real incomes or of commodity bundles