SKUPINOVÁ, Sylva, Jan MÁČE and Eliška SMOTLACHOVÁ. Trend of Consumer Prices of Chosen Commodity and Service in Comparison to the Key Economic Indicators in the Czech Republic. Czech Hospitality and Tourism Papers. Praha 8: Vysoká škola hotelová v Praze 8, spol. s r. o., 2017, XIII./2017, No 28, p. 55-65, 10 pp. ISSN 1801-1535.
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Basic information
Original name Trend of Consumer Prices of Chosen Commodity and Service in Comparison to the Key Economic Indicators in the Czech Republic
Authors SKUPINOVÁ, Sylva, Jan MÁČE and Eliška SMOTLACHOVÁ.
Edition Czech Hospitality and Tourism Papers, Praha 8, Vysoká škola hotelová v Praze 8, spol. s r. o. 2017, 1801-1535.
Other information
Original language English
Type of outcome Article in a journal
Field of Study 50200 5.2 Economics and Business
Country of publisher Czech Republic
Confidentiality degree is not subject to a state or trade secret
WWW URL
Organization unit University College Prague – University of International Relations and Institute of Hospitality Management and Economics, Ltd.
Keywords in English Price, service, time series, average wage, inflation rate, the Czech Republic
Tags International impact, Reviewed
Changed by Changed by: PhDr. Jan Máče, Ph.D., učo 4143. Changed: 11/6/2018 12:15.
Abstract
This paper deals with development of prices of chosen commodity and service in the period 1994 – 2014. As the commodity there was chosen a white wine, and a glass of a white wine as the service. There was found a strong linear dependence of both prices, and that is why only price of service was put on the analysis. Subsequently there was analysed a price of service in dependence on a month wage and inflation. Using the time correlation it was found out that the price of service does not depend on the average month wage change nor on the inflation. Thus, the price is determined by mutual relation of the offer to the demand.
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