law of one price - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “law of one price”

law of one price

noun [S]
 
 
ECONOMICS the principle that in a perfect financial market goods would have the same price everywhere: Mobile phones reduced price differences across fish markets by almost 60% in four years, an almost-perfect example of the "law of one price."
(Definition of law of one price from the Cambridge Business English Dictionary © Cambridge University Press)
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