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Price Ceiling
The mandated maximum amount a
seller may charge for a good or service.
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Price Competition
Selection of a contractor, from
two or more suppliers, based either solely on
prices submitted, or on the final prices
resulting from a negotiation with all
contractors within a competitive range.
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Price Control
A government-set maximum or
minimum price that a seller can charge for
their goods or services.
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Price Differentiation
A pricing strategy in which a
seller charges different prices to different
segments of the market.
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Price Discrimination
An illegal selling strategy in
which buyers are charged different prices for
the same goods or services by a single seller.
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Price Elasticity
A measure of the change in
demand as a result of a change in price for a
specific good or service.
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Price Fixing
Illegal, explicit agreements among
producers regarding the prices at which goods
are to be sold.
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Price Index
A ratio expressing the relationship
between the price of a commodity at a given
point in time to its price during a specified
base period.
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Price Leadership
The ability of an industryleading
supplier to exert enough influence to
determine the market price of goods or
services.
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Price Prevailing at the Date of Shipment
Sales
agreement that states the selling price may
be modified by the supplier/seller between
the order and the shipment dates. See also:
Open-End Pricing, Price at Time of Delivery.
