Definition of price mechanism
: a system of price determination and allocation of goods by free market forces
Start your free trial today and get unlimited access to America's largest dictionary, with:
- More than 250,000 words that aren't in our free dictionary
- Expanded definitions, etymologies, and usage notes
- Advanced search features
- Ad free!
Seen and Heard
What made you want to look up price mechanism? Please tell us where you read or heard it (including the quote, if possible).