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price-taker

Syllabification: price-tak·er
Pronunciation: /prīsˈtākər/

Definition of price-taker in English:

noun

Economics
A company that must accept the prevailing prices in the market of its products, its own transactions being unable to affect the market price.
Example sentences
  • 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.

Derivatives

price-taking

1
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:

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