What is meant by relative price
Answers
Explanation:
A relative price is the price of a commodity such as a good or service in terms of another; i.e., the ratio of two prices. A relative price may be expressed in terms of a ratio between the prices of any two goods or the ratio between the price of one good and the price of a market basket of goods.
Answer:
Explanation:
A relative price is the price of a commodity such as a good or service.
PR = (Px / Py) or (Px / Paog) and this is the formula to find relative price
RELATIVE PRICE STRENGTH (RPS), also known as relative strength, is the ratio between the price trend of a stock price compared to the price trend of the market.
The nominal price of a good is its value in terms of money, such as dollars or any other currency. The relative or real price is its value in terms of some other good, service, or bundle of goods. The term “RELATIVE PRICE” is used to make comparisons of different goods at the same moment of time.