A world price for a good is ________.

Question

Quizplus · Accepted Answer

A world price for a good is the prevailing price of the good in the global market. It is the price at which the good is traded among different countries and markets, taking into account supply and demand factors, as well as other market conditions such as tariffs, subsidies, and regulations. The world price is determined by the interaction of buyers and sellers from different parts of the world, and reflects the relative competitiveness of different producers and the preferences of different consumers. The world price may affect the domestic prices of goods and the incentives for domestic producers and importers to engage in trade.

A World Price for a Good Is ________