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  2. List price - Wikipedia

    en.wikipedia.org/wiki/List_price

    The list price, also known as the manufacturer's suggested retail price ( MSRP ), or the recommended retail price ( RRP ), or the suggested retail price ( SRP) of a product is the price at which its manufacturer notionally recommends that a retailer sell the product. [citation needed] Suggested pricing methods may conflict with competition ...

  3. Price - Wikipedia

    en.wikipedia.org/wiki/Price

    In economics, the market price is the economic price for which a good or service is offered in the marketplace. It is of interest mainly in the study of microeconomics . Market value and market price are equal only under conditions of market efficiency , equilibrium , and rational expectations .

  4. Price mechanism - Wikipedia

    en.wikipedia.org/wiki/Price_mechanism

    In economics, a price mechanism is the manner in which the profits of goods or services affects the supply and demand of goods and services, principally by the price elasticity of demand. A price mechanism affects both buyer and seller who negotiate prices. A price mechanism, part of a market system, comprises various ways to match up buyers ...

  5. Glossary of economics - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_economics

    A situation in which the supply of a good or service exceeds its demand within a particular market, often as a result of the current price being below the economic equilibrium. economic system. Also called an economic order. [155] A system of production, resource allocation, and distribution of goods and services within a society or a given ...

  6. Market structure - Wikipedia

    en.wikipedia.org/wiki/Market_structure

    The market structure determines the price formation method of the market. Suppliers and Demanders (sellers and buyers) will aim to find a price that both parties can accept creating a equilibrium quantity. Market definition is an important issue for regulators facing changes in market structure, which needs to be determined. [1]

  7. Price index - Wikipedia

    en.wikipedia.org/wiki/Price_index

    Price index. A price index ( plural: "price indices" or "price indexes") is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time. It is a statistic designed to help to compare how these price relatives, taken as a whole, differ between ...

  8. Price controls - Wikipedia

    en.wikipedia.org/wiki/Price_controls

    Price controls. Price controls are restrictions set in place and enforced by governments, on the prices that can be charged for goods and services in a market. The intent behind implementing such controls can stem from the desire to maintain affordability of goods even during shortages, and to slow inflation, or, alternatively, to ensure a ...

  9. Price elasticity of supply - Wikipedia

    en.wikipedia.org/wiki/Price_elasticity_of_supply

    The price elasticity of supply ( PES or Es) is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price. Price elasticity of supply, in application, is the percentage change of the quantity supplied resulting from a 1% change in price.