Table 22.4 shows the fruit
The amount spent on the “basket” i.e. combination of different fruits, every year.
Explanation of Solution
The Price of a Basket of Goods: To determine the level of price for commodities, Economists discovered a new concept of a basket of goods and services, which consists of different types of commodities that an individual, businesses or organizations often buy. This concept looks at how the prices of commodities changed over time.
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