market basket


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market basket

n.
1. A grocery cart.
2. A group of products or services in a specific market, especially when considered in terms of its fluctuating cost in determining a consumer price index: "The CPI measures the average price change over time of a fixed market basket containing more than 200 goods and services" (Teresa Tritch).
Translations
References in classic literature ?
Went to Westminster School as a King's Scholar, when I was principally living on garbage, and sleeping in market baskets. Why, if I wanted to keep a dozen horses - which I don't, for one's enough for me - I couldn't bear to see 'em in their stalls here, and think what my own lodging used to be.
However, the expressions shown here are specific to the market basket model in (B1) and (B2).
Costs vary throughout the world for a market basket of staple food items.
Specifically, the price of a fixed market basket in central city stores was about 4 percent higher than that found in suburban locations.
In that regard, a striking aspect of the hearings that the subcommittee held last year was the virtual unanimity that a price index that tracks the cost of purchasing a fixed market basket of goods and services, such as the CPI now does, represents an upper bound on changes in the true cost of living.
As a result, pricing an essentially static "market basket" of goods - without considering how consumers switch among products in response to price changes, how people change where they shop, what new products have been introduced, or what quality improvements have taken place - tends to make the cost of living appear to rise faster than it really has.
A sample drawn from the resulting detailed collection of items, weighted to reflect the importance of each in the typical household's budget, is referred to as a fixed market basket. The CPI tracks the price changes of this fixed market basket over the next decade or so, until a major revision of items and their relative importance in the index is undertaken.
The monthly Consumer Price Index reveals the inflation rate in a given period, based on the cost of a "market basket" of goods and services, from food and medical care to clothing and housing.
using a market basket containing 5 quarters of wheat, 6 yards of cloth, and 4 hogsheads of beer.
"Market basket" studies surveying what foods people buy in the United States suggest dietary-fat consumption "has changed little since the 1960s," and perhaps has increased, note Alison M.
The methodology and price proxy definitions used in the development of the market basket are referenced in the Federal Register notices that accompany the annual revisions of the PPS and the home health agency (HHA) and skilled nursing facility (SNF) cost limits.