Price-Taker

Marketing dictionary

Price-Taker

any firm which is unable to influence the general level of commodity prices by altering the quantity of the product produced; a firm operating in a perfectly competitive market situation is, necessarily, a price-taker. Price-takers are sometimes also referred to as Quantity Adjusters as their chief decision is to adjust the amount they produce to a given price.

See: Perfect Competition

Back to previous
Rate this term

Search

Browse A-Z

Select a letter to find terms listed alphabetically.