Which states that identical products should be priced identically in different markets,once the price is converted to the same currency in each market?

Question

Quizplus · Accepted Answer

The Law of One Price states that identical products should be priced identically in different markets, once the price is converted to the same currency in each market. This law is a fundamental principle of international trade, and it is based on the idea that price disparities between markets should be eliminated by the forces of supply and demand. The Law of One Price assumes that there are no impediments to trade, such as tariffs, transportation costs, or other barriers that might prevent goods from moving freely between markets.

Which States That Identical Products Should Be Priced Identically in Different