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Simple English definitions for legal terms
benchmark
Read a random definition: artificial
A quick definition of benchmark:
Benchmark: A benchmark is a standard unit that is used to compare things. It helps us understand how good or bad something is by comparing it to a known standard. For example, if we want to know how fast a car is, we can compare its speed to the benchmark of the speed limit on the road. This helps us understand if the car is going too fast or too slow.
A more thorough explanation:
Definition: A benchmark is a standard unit that is used as a basis for comparison.
Example 1: In the world of finance, the S&P 500 index is often used as a benchmark to compare the performance of different investment portfolios.
Example 2: In the field of computer hardware, benchmark tests are used to compare the performance of different processors or graphics cards.
These examples illustrate how a benchmark is used as a standard unit of measurement to compare different things. In finance, the S&P 500 index is used as a benchmark to compare the performance of different investment portfolios. In computer hardware, benchmark tests are used to compare the performance of different processors or graphics cards. By using a benchmark, we can easily see which option is better or worse than the others.