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'''Relative price''' relates the price of one [[good]] in terms of another good. A particular good's relative price with respect to another good is how much of this other good must be given to obtain one more unit of the particular good.
'''Relative price''' relates the price of one [[good]] in terms of another good. A particular good's relative price with respect to another good is how much of this other good must be given to obtain one more unit of the particular good.
Relative prices are used in economic analysis as a way to measure '''real''', rather than '''nominal''', fluctuations.
[[category:economics]]
[[category:economics]]