👉 ecostate is a concept in economics that refers to a cost of living index or price level. It is used to measure how much goods and services are priced relative to the overall cost of production. The purpose of this index is to compare different regions, countries, and even individual consumers across time. Ecostates can be calculated by adding up all prices for all goods and services over a given period, then dividing that sum by the total price level, which is typically calculated using inflation rates.
