Market Price

Document Type

Contribution to Book

Journal/Book Title/Conference

The Palgrave Encyclopedia of Strategic Management

Publisher

Palgrave Macmillan

Publication Date

1-1-2016

First Page

1

Last Page

2

Abstract

Market price is the price of a homogenous (undifferentiated) good, service or productive resource as determined by the interaction of large numbers of buyers and sellers in a competitive marketplace. Prices also are established in less than perfectly competitive markets, but the implications for economic efficiency and social welfare differ.

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