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# Agricultural Price Volatility

## Definition

The degree to which agricultural prices fluctuate over time due to changes in supply, demand, weather conditions, and other factors affecting production and consumption. Agricultural price volatility can create uncertainty for producers and consumers.

## Source Chapter

Book I, Chapter 11

## Context

Smith examines the causes and consequences of agricultural price volatility, arguing that while short-term fluctuations can be disruptive, long-term price trends reflect fundamental economic conditions and should not be artificially suppressed.

## Economic Domain

Exchange

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