transaction price

The price agreed between the parties when a contract is made.

The market sale price of a good or input shows what has to be given in exchange in order to obtain a good or service. It is usually denoted in money terms although payment need not be in a monetary form. The relative price is expressed in terms of the quantity of some other good which has to be given in exchange for the original good. Thus, if all prices increase at the same rate, absolute prices will rise but relative prices will remain unchanged.