The term 'relative price' refers to the price of one good or service compared to the prices of other goods and services. Relative prices are the basic measures of the relative scarcity of products when prices are set by market forces (supply and demand).
Standard detail
2.
Benchmark
Depth 1Parent ID: 9BEE61C13799430F924731117146D627Standard set: Grades 5, 6, 7, 8
Original statement
Quick facts
- Statement code
- 2.
- List ID
- 2.
- Standard ID
- 09E9EE98437940318B76491FC2F012DC
- ASN identifier
- S2604728
- Subject
- Economics
- Grades
- 05, 06, 07, 08
- Ancestor IDs
- 9BEE61C13799430F924731117146D627
- Source document
- Voluntary National Content Standards in Economics (2010)
- License
- CC BY 3.0 US