Definition, Meaning & Synonyms
ppp
abbreviation
/ˌpiː.piːˈpiː/
Definition
PPP is an abbreviation that stands for Purchasing Power Parity.
Examples
- The concept of PPP is crucial for comparing economic productivity among countries.
- When assessing international poverty, economists often use PPP to get a better understanding of how far money goes in different countries.
Meaning
Purchasing Power Parity is an economic theory that compares different countries’ currencies through a market ‘basket of goods’ approach. It helps to determine the relative value of currencies by considering the cost of living and inflation rates.
Synonyms
- Purchasing Power Parity
