We're glad you stopped by If you want to compare the price of a good through time you need to A Just graph its price B Compare it to how. This page is here to walk you through essential details with clear and straightforward explanations. Our goal is to make your learning experience easy, enriching, and enjoyable. Start exploring and find the information you need!
Answer :
Final answer:
If you want to compare the price of a good through time, you need to compare it to how other prices changed using price indexes.
Explanation:
When comparing the price of a good through time, it is not sufficient to just graph its price. Instead, it is necessary to compare it to how other prices have changed using price indexes. Price indexes provide a way to measure the average change in prices over time for a specific set of goods and services.
By comparing the price of a good to the overall Consumer Price Level (CPL), we can determine if it has increased or decreased in relation to the general price level. If the price of the good has increased at a higher rate than the overall CPL, it suggests that the good has become relatively more expensive over time. On the other hand, if the price of the good has increased at a lower rate than the overall CPL, it suggests that the good has become relatively less expensive over time.
Learn more about methods of comparing the price of a good through time here:
https://brainly.com/question/34552570
#SPJ14
We appreciate you taking the time to read If you want to compare the price of a good through time you need to A Just graph its price B Compare it to how. We hope the insights shared have been helpful in deepening your understanding of the topic. Don't hesitate to browse our website for more valuable and informative content!
- Why do authors use plot complications in stories A To resolve all a story s conflicts at once B To increase suspense and interest C
- For one month Siera calculated her hometown s average high temperature in degrees Fahrenheit She wants to convert that temperature from degrees Fahrenheit to degrees.
Rewritten by : Batagu
