4. What is meant by a market basket? What is in the USA market basket? Why...

4. What is meant by a market basket? What is in the USA market basket? Why do we only include certain goods and exclude others?

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A market basket is a permanent set of goods and services that are bought as staples in a functional economy. It is used to calculate price index.

It excludes real estate, social security, investment spending like stocks etc. It excludes potential luxury items like cheese, meat etc.

Rahul Sunny answered 2 years ago

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4. What is meant by a market basket? What is in the USA market basket? Why...

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