In
economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services.
Economics focuses on the behaviour and interac ...
, a base period or reference period is a point in time used as a reference point for comparison with other periods.
It is generally used as a benchmark for measuring financial or economic data.
Base periods typically provide a
point of reference for economic studies, consumer demand, and unemployment benefit claims.
In
public transport scheduling, the base period is the period of reduced service on weekdays that generally exists between the morning and afternoon
rush hour
A rush hour (American English, British English) or peak hour (Australian English, Indian English) is a part of the day during which traffic congestion on roads and crowding on public transport is at its highest. Normally, this happens twice e ...
s.
See also
*
Base period price
*
Bureau of Labor Statistics
The Bureau of Labor Statistics (BLS) is a unit of the United States Department of Labor. It is the principal fact-finding agency for the government of the United States, U.S. government in the broad field of labor economics, labor economics and ...
*
Economic indicator
An economic indicator is a statistic about an Economics, economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. One application of economic indicators is the study of business cycles. ...
*
Gross domestic product
Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performanc ...
*
Consumer price index
A consumer price index (CPI) is a statistical estimate of the level of prices of goods and services bought for consumption purposes by households. It is calculated as the weighted average price of a market basket of Goods, consumer goods and ...
References
External links
Base period in glossary
Base Period Investopedia
Economic data
Public transport
{{econ-stub