The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Market Price

  • G. Vaggi
Reference work entry


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).


Cantillon, R. Competition Market price Natural price 

JEL Classifications

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • G. Vaggi
    • 1
  1. 1.