Chapter 5. PRICE DISCOVERY. By : Nur Baladina, SP. MP. INTRODUCTION. PRICE DETERMINATION: the process by which the broad forces of supply and demand establish a general, market-clearing, equilibrium price for a commodity.
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Chapter 5.PRICE DISCOVERY
By : Nur Baladina, SP. MP.
Five systems of price discovery for farm products have been identified:
1. Individual, decentralized negotiation
2. Organized, central market trading
3. Formula Pricing
4. Bargained Prices
5. Administered Prices