Word forms: 3rd person singular present tense exemplifies, present participle exemplifying, past tense, past participle exemplified verb If a person or thing exemplifies something such as a situation, quality, or class of things, they are a typical example of it.
Law Of One Price. What is the 'Law Of One Price'. The law of one price is the economic theory that the price of a given security, commodity or asset has the same price when exchange rates are taken into consideration. The law of one price is another way of stating the concept of purchasing power parity. The law of one price exists due to arbitrage opportunities.
(July 2011) A relative price forsay, is the price of a commodity such as a good or service in terms of another; i.e., the ratio of two prices. A relative price may be expressed in terms of a ratio between any two prices or the ratio between the price of one particular good and a weighted average of all other goods available in the market. A relative price is an opportunity cost. Microeconomics can be seen as the study of how economic agents react to changes in relative prices.