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Prices and Quantities

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Abstract

These are the most directly and readily observable attributes of commodities (goods and services produced for and exchanged on the market). Both price and quantity relate to a unit (piece, bushel, barrel, pound etc.), established usually by commercial practice as the customary unit of reckoning.

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Brody, A. (2018). Prices and Quantities. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1843

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