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:

    “To market ‘tis our destiny to go.”
    —Robert Frost (1874–1963)

    “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)