730 B
730 B
Coal Price
Definition
The market price of coal, which is influenced by its abundance, transportation costs, and the availability of alternative fuels. Coal prices tend to be lower in coal-producing regions and higher in areas dependent on imported coal.
Source Chapter
Book I, Chapter 11
Context
Smith analyzes coal prices as an example of how the rent component in commodity prices varies with the natural abundance of resources, arguing that coal rents are typically lower than rents for agricultural land due to the greater abundance of coal mines.
Economic Domain
Production