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10 June, 03:16

A representative selection of commonly purchased goods and services used by consumers is called the

Question 32 options:

producer price index (PPI).

base year.

market basket.

consumer price index (CPI).

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Answers (2)
  1. 10 June, 05:11
    0
    market basket.

    Explanation:

    The Market Basket are the most basic products and services purchased in a house for meeting the most basic needs.
  2. 10 June, 05:32
    0
    market basket.

    Explanation:

    -The producer price index (PPI) is a measurement of the variation in the prices that producers receive for their goods.

    -A base year is the year used as a reference when an index is constructed.

    -The market basket is a list of items that are frequently purchased and it is used to calculate the cost of living.

    -The consumer price index (CPI) is a measurement of the variation in the price of the market basket.

    So, a representative selection of commonly purchased goods and services used by consumers is called the market basket.
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