price

Value put on a commodity at the point of exchange. In a free market it is determined by the market forces of demand and supply. In an imperfect market, firms face a trade-off between charging a higher price and losing sales, or charging a lower price and gaining sales.

Price

Seat of Carbon County, eastern-central Utah, USA, on the Price River, 105 km/65 mi southeast of Provo; population (1990) 8,700. Its coal mining industry, established since the 1880s, is supplemented by flour milling, the processing and distribution of sugar beet and vegetables, and tourism. The town is a gateway to canyons, mountains, and nearby ghost towns. It is the seat of the College of Eastern Utah (1937), noted for its Prehistoric Museum. The Cleveland-Lloyd Dinosaur Quarry lies 48 km/30 mi to the south.

Price developed after the arrival of the railway in the early 1880s and the discovery of coal.