Concept information
Preferred term
just price
Definition
- The classic idea of the just price is that it is a sum of money roughly equal to the real value of an object in an exchange. Modern economic theory gives considerable attention to the mechanisms of price-setting but tends to be agnostic with regard to the question of whether prices are or can be known to be fair or just. [Source: Encyclopedia of Business Ethics and Society; Just Price]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/just_price
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