The basket of goods consists of the different items typically bought by individuals, businesses or:

1. The basket covers more than households. 2. The price level starts from a basket of goods and services. 3. It consists of the different items individuals and businesses typically buy. 4. Organizations are named alongside them. _Source: OpenStax Principles of Macroeconomics for AP Courses 2e (CC BY 4.0), Ch 8 'Inflation'_