Search box

Definition: Economically significant price

Purchasing power parities

A price that has a significant influence on the amounts producers are willing to supply and on the amounts purchasers wish to buy. This is the basic price for producers and the purchasers’ price for purchasers.
Eurostat, Organization for Economic Cooperation and Development (OECD), "Eurostat-OECD Methodological Manual on Purchasing Power Parities", Publications Office of the European Union, Luxembourg, 2012