Abstract
The market price, or market value, is defined as the actual price paid for a commodity during a certain period of time, and may be contrasted with the natural or normal price, which is determined by the long-term forces and the permanent causes of the value of commodities (see Natural Price).
This chapter was originally published in The New Palgrave Dictionary of Economics, 2nd edition, 2008. Edited by Steven N. Durlauf and Lawrence E. Blume
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Bibliography
Hollander, S. 1973. The economics of Adam Smith. London: Heinemann.
Marshall, A. 1920. Principles of economics, 8th ed. Reprinted, London: Macmillan, 1972.
Smith, A. 1776. An inquiry into the nature and causes of the wealth of nations. Oxford: Oxford University Press, 1976.
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Vaggi, G. (2008). Market Price. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_1251-2
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DOI: https://doi.org/10.1057/978-1-349-95121-5_1251-2
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Publisher Name: Palgrave Macmillan, London
Online ISBN: 978-1-349-95121-5
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Chapter history
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Latest
Market Price- Published:
- 11 March 2017
DOI: https://doi.org/10.1057/978-1-349-95121-5_1251-2
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Original
Market Price- Published:
- 30 November 2016
DOI: https://doi.org/10.1057/978-1-349-95121-5_1251-1