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TeachMeFinance.com - explain World price World price The term 'World price ' as it applies to the area of agriculture can be defined as ' The price at which commodities will move in international trade under existing marketing conditions. The concept 'world price' lacks precision unless quality, location, and other factors are specified. See domestic price'. Previous 5 Terms: Working storage capacity World Agricultural Outlook Board (WAOB) World Bank World Food Program (WFP) World Health Organization Next 5 Terms: World price (rice) World Trade Organization (WTO) WPA WPS WQIP About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.