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:
“I refuse to be. In
the madhouse of the inhuman
I refuse to live.
With the wolves of the market place
I refuse to howl ...”
—Marina Tsvetaeva (1892–1941)
“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)