Definition

Noun: - The prevailing price for a commodity, security, or service established by the interaction of buyers and sellers in an open market: It is the current price at which an asset or service can be bought or sold, determined by supply and demand forces without restrictions.

Usage

The term "market price" is used to indicate the real-time, current value of something in a freely operating market. It is a key concept in economics and finance. - It is often used when discussing stocks, commodities, real estate, or consumer goods. - It contrasts with fixed prices, list prices, or theoretical valuations.

Examples

• Noun:
  • The market price of wheat fluctuates daily based on global harvest reports.
  • We sold our house slightly below the market price to ensure a quick sale.
  • Investors should check the current market price before buying shares.

Advanced Usage

• "At market price": This phrase means to buy or sell something at the current prevailing rate.
  • The restaurant sources its fish daily at market price.
• "To fetch/command a market price": This describes an item's ability to achieve a certain selling price.
  • Well-maintained vintage cars can command a high market price.

Variants and Related Words

• Market value (n): Often used interchangeably with "market price," especially for assets, though it can imply a more theoretical or assessed worth.
• Spot price (n): The current market price for immediate delivery of a commodity, like oil or gold.
• Fair market value (n): A legal and accounting term for the estimated price in an open and competitive market.

Synonyms

• Current price
• Going rate
• Prevailing price

Antonyms

• Fixed price
• List price (a seller's suggested price, which may differ from the market price)
• Par value (a face or nominal value)

Related Idioms/Phrases

• "To be priced out of the market": To be unable to afford something because its market price has become too high.
  • Many first-time buyers are being priced out of the housing market.
• "To test the market": To try to sell something to see what price buyers are willing to pay.
  • They are testing the market with a few pieces from their art collection.

Noun

1. the price at which buyers and sellers trade the item in an open marketplace