Description
Multiply fixedQuantity by basePrice and currentPrice for baseCost and currentCost, then return price change times quantity for costChange.
An economic model term depends on the chosen price basis, quantities, reference period, and behavioral assumptions. A supplied arithmetic component does not establish a causal economic effect or a complete model equilibrium.
Multiply fixedQuantity by basePrice and currentPrice for baseCost and currentCost, then return price change times quantity for costChange.
When to use this tool
Use Price Index Single Basket Item when you need one explicitly defined economic accounting or model component.
How to use the tool and how it works
- Enter basePrice, currentPrice, fixedQuantity. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read baseCost, currentCost, costChange. Use the output convention below.
Multiply fixedQuantity by basePrice and currentPrice for baseCost and currentCost, then return price change times quantity for costChange.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| basePrice | Base Price | Required. Finite number; minimum 0. |
| currentPrice | Current Price | Required. Finite number; minimum 0. |
| fixedQuantity | Fixed Quantity | Required. Finite number; minimum 0. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| baseCost | Base Cost | Required. Finite number. |
| currentCost | Current Cost | Required. Finite number. |
| costChange | Cost Change | Required. Finite number. |
{
"input": {
"basePrice": 4,
"currentPrice": 5,
"fixedQuantity": 10
},
"output": {
"baseCost": 40,
"currentCost": 50,
"costChange": 10
}
}Limitations and assumptions
- This is one fixed-basket item contribution, not a complete price index, inflation estimate, substitution adjustment, or quality comparison.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Review the complete model, data definitions, and reference prices before interpreting the result.
References
Similar or alternative tools
- Expenditure Share Good
Require goodExpenditure within positive totalExpenditure and divide for share.
- Base Period Real Nominal Price Crosswalk
Multiply nominalAmount by indexBase/priceIndex for realAmount.