|
|
MARKET STRUCTURE CONTINUUM: A diagram illustrating alternative degrees of market control held by different types of market structures based on the number of firms in the market and the degree of competitiveness. As the number of competitors along the continuum ranges from one to many, the degree of market control ranges complete to none. At one end of the continuum, with many competitors on no market control, is perfect competition. At the other end, with one competitor and complete market control, is monopoly. Oligopoly and monopolistic competition comprise the interior of the continuum, with monopolistic competition having many competitors but limited market control and oligopoly having few competitors and greater market control. The continuum illustrates that clear-cut dividing lines really do not exist between the market structures, especially for monopolistic competition and oligopoly.
Visit the GLOSS*arama
|
|
|
|
                           CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS: An index of prices of goods and services typically purchased by urban consumers. The Consumer Price Index for All Urban Consumers (CPI-U) is the official name for the Consumer Price Index (CPI) commonly reported in the media. It is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI-U is so designated to differentiate it from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The Consumer Price Index for All Urban Consumers (CPI-U) measures the prices of goods and services typically purchased by all urban consumers. The less common Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) tracks the prices of goods typically purchased by urban wage earners and clerical workers. The CPI-W is an extension of the original CPI developed early in the 1900s that provided cost-of-living adjustment information to wage-earning workers (which is why the Bureau of LABOR Statistics oversees the CPI).For formula for calculating the CPI-U is given as: | CPI-U | = | total expenditures on
market basket in current period
total expenditures on
market basket in base period | x 100 |
The CPI-U was introduced in 1978 by the Bureau of Labor Statistics to address some of the deficiencies in the existing consumer price index, which was subsequently designated as CPI-W. The CPI-U provides a broader, more comprehensive measure of the economy's price level. In particular, the newer CPI-U includes the prices of goods and services purchased by about 80 percent of the non-institutionalized population while the older CPI-W includes about only 32 percent. Unless otherwise noted, the CPI reported by the popular press and used for economic analysis is invariably the broader CPI-U.
Recommended Citation:CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: January 26, 2022].
Check Out These Related Terms... | | | | | | |
Or For A Little Background... | | | | | | | | | | | | | |
And For Further Study... | | | | | | | | | | |
Related Websites (Will Open in New Window)... | |
Search Again?
Back to the WEB*pedia
|
|
|
GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for high interest rates.
Your Complete Scope
This isn't me! What am I?
|
|
|
Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
|
|
|
"It has been my philosophy of life that difficulties vanish when faced boldly. " -- Isaac Asimov
|
|
SPO
Strongly Pareto Optimal
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
