In
economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services.
Economics focuses on the behaviour and intera ...
, a base period or reference period is a point in time used as a reference point for comparison with other periods.
It is generally used as a benchmark for measuring financial or economic data.
Base periods typically provide a
point of reference for economic studies, consumer demand, and unemployment benefit claims.
In
public transport scheduling, the base period is the period of reduced service on weekdays that generally exists between the morning and afternoon
rush hour
A rush hour (American English, British English) or peak hour (Australian English) is a part of the day during which traffic congestion on roads and crowding on public transport is at its highest. Normally, this happens twice every weekday: on ...
s.
See also
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Base period price
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Bureau of Labor Statistics
The Bureau of Labor Statistics (BLS) is a unit of the United States Department of Labor. It is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics and serves as a principal agency of t ...
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Economic indicator
An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. One application of economic indicators is the study of business cycles. Economic i ...
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Gross domestic product
Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjec ...
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Consumer price index
A consumer price index (CPI) is a price index, the price of a weighted average market basket of consumer goods and services purchased by households. Changes in measured CPI track changes in prices over time.
Overview
A CPI is a statistica ...
References
External links
Base period in glossary
Base Period Investopedia
Economic data
Public transport
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