Examlex
The abbreviation P1 in the Posting Reference column of an account indicates that the data was posted from page 1 of the cash payments journal.
Market Price
The current price at which a good or service can be bought or sold in a marketplace, determined by supply and demand.
Cartel
A formal agreement among competing firms to control prices or exclude entry of a new competitor in the market.
Market Price
The current price at which an asset or service can be bought or sold in a particular market.
Substitutes
Products or services that can be used in place of each other, having a positive cross-price elasticity of demand.
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