The price of a commodity when sold in a given market: the world market price for nonfat dry milk
More example sentences
- Alternatively, internal transfers of coal could be made at cost price or at market price.
- No profit-maximizing firm would sell below the market price; to do so would mean needlessly giving up revenue.
- A monopolist can determine the market price for its product and can be described as a price maker rather than a price taker.