Price is the value or worth of a product or service and when you say price then it means the normal price of a product or a service which a company charges. On the other hand, market price is the price of a product or service which is in a marketplace and is resulted through market efficiency, equilibrium and rational expectations. Normal price can be lesser, equal or greater than the market price. If most of the companies in an industry charge market prices for the products or services then competition is high in that specific industry.
