Briefly explain about price
Answers
Answer:
which price you want to be explained MSP or any other price actually price defines to the thing if you want to purchase anything you need to give any price in the form to take the thing it is only price for the object you want to purchase that's why I think so it can be explained
Explanation:
A price is the (usually not negative) quantity of payment or compensation given by one party to another in return for one unit of goods or services.[1] A price is influenced by production costs, supply of the desired item, and demand for the product. A price may be determined by a monopolist or may be imposed on the firm by market conditions.
In modern economies, prices are generally expressed in units of some form of currency. (For commodities, they are expressed as currency per unit weight of the commodity, e.g. euros per kilogram or Rands per KG.) Although prices could be quoted as quantities of other goods or services, this sort of barter exchange is rarely seen. Prices are sometimes quoted in terms of vouchers such as trading stamps and air miles. In some circumstances, cigarettes have been used as currency, for example in prisons, in times of hyperinflation, and in some places during World War II. In a black market economy, barter is also relatively common.
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