PURCHASINGPOWER

Purchasing power

Purchasing power is the number of goods or services that can be purchased with a unit of currency. For example, if one had taken one unit of currency to a store in the 1950s, it is probable that it would have been possible to buy a greater number of items than would today, indicating that one would have had a greater purchasing power in the 1950s. Currency can be either a commodity money, like gold or silver, or fiat currency, or free-floating market-valued currency like US dollars. As Adam Smith noted, having money gives one the ability to "command" others' labor, so purchasing power to some extent is power over other people, to the extent that they are ...

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purchasing power

Noun

  1. The amount of goods and services that can be bought with a unit of currency or by consumers.
  2. The ability of a large collective or company to negotiate more favourable prices and terms than a smaller group or company.


The above text is a snippet from Wiktionary: purchasing power
and as such is available under the Creative Commons Attribution/Share-Alike License.

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