Meaning of “law of one price” in the English Dictionary

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"law of one price" in Business English

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law of one pricenoun [ S ]

uk us

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)