Concept information
Preferred term
price and price mechanisms
Definition
- Price is the value of a good or service in the market. Price mechanisms are strategies that impact and guide consumption by altering the price of the good (or service) relative to its substitutes. [Source: Encyclopedia of Consumer Culture; Price and Price Mechanisms]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/price_and_price_mechanisms
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