relative price
2
5.4
- noun
- Specialized
:
precio relativo
- For example, if the relative price of eggs goes up, people will buy fewer eggs.
- changes in relative price
- relative prices of goods
- relative price variability
Examples
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The real exchange rate measures the relative price of non-tradables in terms of tradables.
Academic text (1994) -
The second stage uses the relative prices of fuels to determine the market share of each fuel.
Academic text (1992) -
Trade policy works through its effect on the relative prices of goods, not through the price level.
Blog text (1) -
Key influences include relative prices, cost of credit, and ability to bear risk.
Academic text (2005) -
One study of this type examines how movements in exchange rates affect the relative prices of goods.
Academic text (2002) -
Economists pointed to the potential benefits of scale economies and gains from trade associated with different relative prices.
Academic text (2005) -
Similarly, the existence of a national border should also tend to increase relative price variability.
Academic text (2005) -
During the period 1980-2000, with trade barriers still in place but being reduced, relative price increases occurred.
Academic text (1994) -
Their method involved calculating relative prices for pairs chosen from fourteen U.S. and nine Canadian cities.
Academic text (2005) -
When the relative price of gasoline rises, consumers often switch to using public transportation.
How Expensive
74
4.3
- Specialized
2
5.4
Surface Forms
Morphology
The meaning 'price expressed in terms of another' is directly compositional: 'relative' (judged in relation to something) modifies 'price', yielding a price that is compared to or expressed against another. This modifier + noun pattern is cross-linguistically common (e.g., Spanish 'precio relativo') and follows standard English composition, so a B1 learner who knows both constituents should understand it.
Etymology
The term relative price is the cost of one thing compared with another. The word relative shows the comparison and price means the cost, so if the relative price of coffee goes up, people may buy less coffee and more tea.