market basket: meaning, definition, pronunciation and examples
B2 (Business/Economics), A2 (Physical object sense)Neutral/Formal in economic context; Informal in shopping context.
Quick answer
What does “market basket” mean?
A physical basket or bag used to carry purchased goods while shopping.
Audio
Pronunciation
Definition
Meaning and Definition
A physical basket or bag used to carry purchased goods while shopping; the metaphorical collection of goods and services used to track price changes.
In economics, the specific set of consumer goods and services whose prices are tracked to measure inflation (e.g., Consumer Price Index). Can also refer to a curated selection of related products for sale.
Dialectal Variation
British vs American Usage
Differences
In the physical shopping sense, 'shopping basket' or 'shopping trolley' is more common in British English. 'Market basket' is more frequently used in its economic/technical sense in both varieties.
Connotations
The physical object sense may sound slightly old-fashioned or quaint in both varieties, evoking an image of an open-air market.
Frequency
Higher frequency in American English, particularly in business journalism and economics. In British English, 'shopping basket' is the default for the physical object.
Grammar
How to Use “market basket” in a Sentence
The market basket of [NOUN PHRASE: e.g., the average family]Vocabulary
Collocations
Examples
Examples of “market basket” in a Sentence
verb
British English
- [Not standard as a verb]
American English
- [Not standard as a verb]
adverb
British English
- [Not used as an adverb]
American English
- [Not used as an adverb]
adjective
British English
- The market-basket data revealed surprising product associations.
- They conducted a market basket review.
American English
- Market basket analysis is crucial for inventory planning.
- The report highlighted market-basket trends.
Usage
Meaning in Context
Business
Refers to data analysis techniques ('market basket analysis') used to understand purchasing patterns.
Academic
Precisely defined set of items used to calculate a price index in economics papers.
Everyday
Literally, a basket you take to a market or store.
Technical
In retail analytics, a transaction containing multiple items.
Vocabulary
Synonyms of “market basket”
Strong
Neutral
Weak
Vocabulary
Antonyms of “market basket”
Watch out
Common Mistakes When Using “market basket”
- Using 'market basket' to mean 'stock market index' (it's for consumer goods, not stocks).
- Misspelling as 'market baskett' or 'marketbasket' (should be two words or hyphenated as a modifier: 'market-basket analysis').
FAQ
Frequently Asked Questions
It is typically written as two words (market basket). It is hyphenated when used as a compound modifier before a noun (e.g., market-basket analysis).
The 'market basket' is the specific list of items (goods and services). The CPI is the index number calculated by tracking the price of that basket over time.
For the physical object, yes, 'shopping basket' is more common and neutral. For the economic/technical sense, you should use 'market basket' or 'CPI basket'.
No. Each country's statistical agency defines its own representative market basket based on typical household spending patterns in that country, so the contents differ.
A physical basket or bag used to carry purchased goods while shopping.
Market basket is usually neutral/formal in economic context; informal in shopping context. in register.
Market basket: in British English it is pronounced /ˈmɑːkɪt ˈbɑːskɪt/, and in American English it is pronounced /ˈmɑːrkɪt ˈbæskɪt/. Tap the audio buttons above to hear it.
Phrases
Idioms & Phrases
- “[No common idioms specifically for 'market basket'. Related: 'put all your eggs in one basket' is conceptually opposite to a diversified market basket.]”
Learning
Memory Aids
Mnemonic
Imagine a BASKET at the MARKET. What's inside it? Either your groceries (literal) or the data economists use to measure the cost of living (figurative).
Conceptual Metaphor
CONTAINER FOR MEASUREMENT (The basket 'contains' the representative items used to 'measure' economic health.)
Practice
Quiz
In which context would 'market basket' most likely refer to a physical object?