---
entity_slug: market_price_of_things
evaluator: null
evaluated_at: '2026-02-23T05:47:28.991122'
overall_score: 4.2
scores:
- name: definition_precision
  value: 4.0
  max_value: 5.0
  rationale: The definition clearly distinguishes market price from intrinsic value
    and identifies supply/demand as the determining mechanism. It's precise enough
    to be operationally useful, though it could be slightly more specific about the
    relationship between money supply and price fluctuations.
- name: source_grounding
  value: 5.0
  max_value: 5.0
  rationale: This concept is thoroughly grounded in Smith's actual text, particularly
    his discussions of how money quantity affects nominal prices without changing
    real value. The entity accurately reflects Smith's distinction between market
    prices and underlying economic fundamentals.
- name: domain_placement
  value: 5.0
  max_value: 5.0
  rationale: '"Exchange" is the correct domain placement since market price is fundamentally
    about the mechanism by which goods and services are traded. This concept sits
    at the heart of exchange processes rather than production, distribution, or consumption.'
- name: vsm_relevance
  value: 3.0
  max_value: 5.0
  rationale: Market price has some relevance to S4 (intelligence/environmental adaptation)
    as it provides information about market conditions, but it's primarily a emergent
    phenomenon rather than a structural system component. It's more of an information
    signal than a viable system element.
- name: explanatory_value
  value: 4.0
  max_value: 5.0
  rationale: This entity provides genuine explanatory power by illuminating how prices
    form through supply/demand dynamics rather than intrinsic value, and how monetary
    changes affect nominal but not real values. It reveals an important mechanism
    in Smith's economic theory about price formation and monetary effects.
---

# Evaluation: Market Price Of Things

## definition_precision — 4.0 / 5.0

The definition clearly distinguishes market price from intrinsic value and identifies supply/demand as the determining mechanism. It's precise enough to be operationally useful, though it could be slightly more specific about the relationship between money supply and price fluctuations.

## source_grounding — 5.0 / 5.0

This concept is thoroughly grounded in Smith's actual text, particularly his discussions of how money quantity affects nominal prices without changing real value. The entity accurately reflects Smith's distinction between market prices and underlying economic fundamentals.

## domain_placement — 5.0 / 5.0

"Exchange" is the correct domain placement since market price is fundamentally about the mechanism by which goods and services are traded. This concept sits at the heart of exchange processes rather than production, distribution, or consumption.

## vsm_relevance — 3.0 / 5.0

Market price has some relevance to S4 (intelligence/environmental adaptation) as it provides information about market conditions, but it's primarily a emergent phenomenon rather than a structural system component. It's more of an information signal than a viable system element.

## explanatory_value — 4.0 / 5.0

This entity provides genuine explanatory power by illuminating how prices form through supply/demand dynamics rather than intrinsic value, and how monetary changes affect nominal but not real values. It reveals an important mechanism in Smith's economic theory about price formation and monetary effects.
