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:

    “At market and fair, all folks do declare,
    There is none like the Boy that sold Broom, green Broom.”
    —Unknown. Broom, Green Broom (l. 23–24)

    “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)