Definition of price-taker in English:
A company that must accept the prevailing prices in the market of its products, its own transactions being unable to affect the market price.
- The other thing that strikes me about people on low or middle incomes, particularly those with children, is that they are essentially price-takers of important commodities like electricity, petrol, and diesel.
- ‘Farmers and ranchers need to stop being price-takers,’ says Montoya, referring to the food commodity system.
- We will be more price-takers than price-makers.
price-taking noun& adjective
- Example sentences
- While trade in a bazaar may require personal communication and bargaining for establishing personal trust, modern anonymous market economies with price-taking markets work much more efficiently, but they rely on anonymous trust.
- First, empirical tests can be conducted to determine if agents in the economy exhibit price taking behavior.
- t is known that price taking behavior, or perfect competition, is not ensured if the number of agents in the economy is finite.
Definition of price-taker in:
- British & World English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Canada
Most popular in Australia