Market Correction

A market correction is a rapid change in the nominal price of a commodity, after a barrier to free trade has been removed and the free market establishes a new equilibrium price. It may also refer to several of these single-commodity corrections en masse, as a collective effect over several markets concurrently.

Famous quotes containing the words market and/or correction:

    A sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn’t know the market price of any single thing.
    Oscar Wilde (1854–1900)

    Shakespeare, with an improved education and in a more enlightened age, might easily have attained the purity and correction of Racine; but nothing leads one to suppose that Racine in a barbarous age would have attained the grandeur, force and nature of Shakespeare.
    Horace Walpole (1717–1797)