Market Price

{
  "id": "MLC-T-ENV-016594",
  "term": "Market Price",
  "field": "Environment",
  "definition": "1. A price at which a good or service is actually exchanged for another good or service (as an in-kind payment) or for money (in which case it is a financial price). A market price can refer to a transaction that occurs at any location, not necessarily a village or wholesale market. Distinguish from \"shadow price\".\n\n2. Current prices that are established in the course of ordinary trade between buyers and sellers free to bargain and that can be substantiated through competition or from sources independent of the offerors.",
  "references": [
    "USDA National Agricultural Library Glossary",
    "48 CFR 2.101 (CFR 2018)"
  ],
  "url": "https://mlchart.com/terminology/environment/market-price/"
}