A market index is a market factor expressed in a quantitative form relative to some base figure.

Name: A market index is a market factor expressed in a quantitative form relative to some base figure.
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A market index is a quantifiable market factor that is used to measure the performance of a particular market or sector relative to a base figure, such as a benchmark or average value. Examples of market indices include the S&P 500, Dow Jones Industrial Average, and NASDAQ Composite Index.

A Market Index Is a Market Factor Expressed in a Quantitative