Editing Market rate
Appearance
Content that violates any copyrights will be deleted. Encyclopedic content must be verifiable through citations to reliable sources.
Latest revision | Your text | ||
Line 1: | Line 1: | ||
{{short description|Usual price charged for a good or service in a free market}} |
|||
The '''market rate''' (or "going rate") for goods or services is the usual price charged for them in a [[free market]]. If [[demand]] goes up, manufacturers and laborers will tend to respond by increasing the price they require, thus setting a higher market rate. When demand falls, market rates also tend to fall (see [[Supply and demand]]). |
The '''market rate''' (or "going rate") for goods or services is the usual price charged for them in a [[free market]]. If [[demand]] goes up, manufacturers and laborers will tend to respond by increasing the price they require, thus setting a higher market rate. When demand falls, market rates also tend to fall (see [[Supply and demand]]). |
||