Basket

Definition

Basket. Collection of goods, services, or other things (e.g., financial contracts) that can be purchased and sold in some marketplace

A basket may be associated with a specific market sector, and may be delineated for the purposes of statistical analysis, such as for calculating CPI. According to the US Bureau of Labor Statistics (BLS), with respect to the CPI, a market basket is a package of goods and services that consumers purchase for day-to-day living. The weight of each item is based on the amount of expenditure reported by a sample of households.

See Also

• http://www.investopedia.com/terms/m/market_basket.asp
• http://www.merriam-webster.com/dictionary/market%20basket

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.