MLchartDataset catalogue

Quality adjustment

Term · Economic statistics · MLC-T-ECS-001543

Method of adjusting prices whenever the characteristics of a good or service change because of innovation or the introduction of a completely new good or service.

Note: For example, the Consumer Price Index (CPI) program uses quality adjustment.

For an example of quality adjustment, see Quality adjustment in the CPI.

Table 1. Record
IdentifierMLC-T-ECS-001543
FieldEconomic statistics
ReferencesBLS Glossary
Record as JSON 
{
  "id": "MLC-T-ECS-001543",
  "term": "Quality adjustment",
  "field": "Economic statistics",
  "definition": "Method of adjusting prices whenever the characteristics of a good or service change because of innovation or the introduction of a completely new good or service.\n\nNote: For example, the Consumer Price Index (CPI) program uses quality adjustment.\n\nFor an example of quality adjustment, see Quality adjustment in the CPI.",
  "references": [
    "BLS Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/quality-adjustment/"
}

Record 1,520 of 2,141 in Economic statistics terminology (MLC-0116). Request the full dataset.