Purchasing power
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Purchasing power is an economic concept which is commonly used to expresses the quantity of goods a certain number of monetary units can obtain in an exchange. Alternatively, the purchasing power of a good can be seen as equal to the money it can buy on the market, or in other words its market money price.[1] While the purchasing power of money or the monetary unit can also been seen as consisting "of an array of all the particular goods prices in the society in terms of the unit".[1]
References
- ↑ 1.0 1.1 Rothbard, Murray. "Man, Economy and State", 2004, page 205.
