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Healthcare Glossary

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Price taker

A producer who has no power to influence prices. It can also reference a company that can alter its rate of production and sales without significantly affecting the market price of its product.
A producer who has enough market power to influence prices.

In economics, market power is the ability of a company to change the market price of goods or services.
A firm with market power can raise prices without losing its customers to competitors. Market participants that have market power are therefore sometimes referred to as "price makers," while those without are sometimes called "price takers."

See also:
Price Maker

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WE’RE ON A MISSION To enhance patients’ lives through communication that changes behaviour and improves patient health outcomes....

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