Answer:
Typical goods and services purchased by an urban household
Explanation:
The "typical basket" of goods and services is important to define and measure accurately because the cost of the basket determines the Consumer Price Index, which economists use to measure how prices change over time.
Answer:
Common products and services purchased by households.
Explanation:
The market basket is a list of goods and services that are common purchases of a household and it is used to measure the cost of living in a country. The market basket helps to track the price changes of the items which allows to measure the inflation.
