• In the trade: The market or current market price is the price of a commodity negotiated under momentary market conditions.
• In the law of contract: The market or current market price is at the same time the developed sales contracts homogeneous by comparison developing average price.

The law of the uniform market price means (after William Stanley Jevons) that a property at a place can have, at a time also only one price.

The concept of the market price replaced conceptions of a fair price.

See also: Price theory, free-market economy, market equilibrium, perfect market

Articles in category "Market price"

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