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Consumer Price Index
Consumer Price Index (CPI) 1. In the UK, the usual name for the Harmonized Index of Consumer Prices (HICP), a measure of price level introduced in 1997 to enable comparisons within the EU. In 2003 the Chancellor of the Exchequer announced that government inflation targets would subsequently be base...
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price
price amount of money for which a unit of goods or services is exchanged. Price is equivalent to market value and may or may not measure the intrinsic value of the goods or services to the buyer or seller. Most economists hold that, in the long run, price in a competitive market will equal the cost...
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Office of Price Administration
Office of Price Administration (OPA), U.S. federal agency in World War II, established to prevent wartime inflation. The OPA issued (Apr., 1942) a general maximum-price regulation that made prices charged in Mar., 1942, the ceiling prices for most commodities. Ceilings were also imposed on resident...
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monopoly
monopoly , market condition in which there is only one seller of a certain commodity; by virtue of the long-run control over supply, such a seller is able to exert nearly total control over prices. In a pure monopoly, the single seller will usually restrict supply to that point on the supply-demand ...
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Sterling Price
Sterling Price 1809-67, Confederate general in the American Civil War, b. Prince Edward co., Va. After moving to Missouri, he practiced law and entered politics. He served in Congress (1844-46), resigning to lead a Missouri regiment in the Mexican War . Made military governor of New Mexico, he put...
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Thomas Tooke
Thomas Tooke 1774-1858, British economist, b. St. Petersburg, Russia. A successful businessman, he began to speak on behalf of free trade before Parliamentary committees and was one of the founders of the Political Economy Club (1821). His History of Prices (6 vol., 1838-57) is a classic expositi...
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greenmail
greenmail payment, by a corporation that is a takeover target, of a premium price for the shares of its stock that have been accumulated by the potential buyer. In exchange, the potential buyer stops the takeover bid.
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Leontyne Price
Leontyne Price (Mary Leontyne Price) , 1927-, American soprano, b. Laurel, Miss. She studied voice at the Juilliard School of Music with Florence Page Kimball. Subsequently she appeared as Bess in Gershwin's Porgy and Bess on Broadway (1952-54), repeating her performance in a highly successful i...
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Richard Price
Richard Price 1723-91, English nonconformist minister and philosopher. His philosophical importance rests on his ethical discussion, Review of the Principal Questions and Difficulties in Morals (1757), in which Price stresses the power of reason in making moral judgments, a position closely allie...
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supply and demand
supply and demand in classical economics, factors that are said to determine price, by correlating the amount of a given commodity producers hope to sell at a certain price (supply), and the amount of that commodity that consumers are willing to purchase (demand). Supply refers to the varying amoun...
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