Relative price

Relative price,

Definition of Relative price:

  1. Price of a commodity as it compares to another. The relative price is usually presented as a ratio between the two prices.

  2. The ratio of the price of something at one time to its price at another.

How to use Relative price in a sentence?

  1. You need to figure out what the relative price should be and then decide if you are getting a good deal or not.
  2. A price relative of less than 1 indicates that the price level has fallen.
  3. Though consumers benefit from the lower cost of gasoline, big oil companies such as Shell and Exxon are worried about the relative price of petroleum versus coal or natural gas.
  4. I wanted to determine the relative price of the item compared to the other and I knew that it would determine how much we made it worth.

Meaning of Relative price & Relative price Definition