The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

PRICE MECHANISM Definition & Legal Meaning

Law dictionary entry - legal definition of embargo

Definition & Citations:

The dependence of supply and demand of a good or service and its value. When demand is greater than supply, the price falls and vice versa. The influx of suppliers leads to a lowering of the cost and when suppliers leave the price is driven up.

Disclaimer

This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.