Real values
What Real values means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Real values
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Reference: Pearson Edexcel
Values adjusted for price changes to show true purchasing power, found by dividing the nominal value by the price index and multiplying by the base year index.
Values adjusted to remove the effects of inflation, providing a more accurate reflection of purchasing power.
Data adjusted for inflation, representing constant prices and actual purchasing power.
Topics that use Real values
- Appendix 3: Quantitative skills (Pearson Edexcel A-Level)
- Growing economies (Pearson Edexcel A-Level)
- Inflation (Pearson Edexcel A-Level)
Related terms
- Nominal values
- Base year
- Demand-pull inflation
- Index numbers
- Price index
- Purchasing power
- Business uncertainty
- Cost-push inflation
Using Real values in the exam
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