In
economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...
, 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 hours.
See also
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Base period price
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Bureau of Labor Statistics
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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 ...
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Gross domestic product
Gross domestic product (GDP) is a monetary 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 subjective nature this measure is oft ...
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Consumer price index
References
External links
Base period in glossary
Base Period Investopedia
Economic data
Public transport
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