PRICE DETERMINATION
\pɹˈa͡ɪs dɪtˌɜːmɪnˈe͡ɪʃən], \pɹˈaɪs dɪtˌɜːmɪnˈeɪʃən], \p_ɹ_ˈaɪ_s d_ɪ_t_ˌɜː_m_ɪ_n_ˈeɪ_ʃ_ə_n]\
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The interaction between the demand and supply in the free market that is used to determine the costs for a goods or service.TLDÂ Example: The unexpected cold weather is expected to influence the price determination of oranges by decreasing the size of the crop yield this year.
By Henry Campbell Black
