What goods do you buy for which you are a price taker? The term "price taker" can apply to buyers as well as sellers. A price-taking buyer is one who cannot influence price by changing the amount...

What goods do you buy for which you are a price taker? 

The term "price taker" can apply to buyers as well as sellers. A price-taking buyer is one who cannot influence price by changing the amount she buys

Asked on by rsayme

1 Answer | Add Yours

pohnpei397's profile pic

pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted on

As private individuals we are price takers in essentially everything that we buy.  We are typically unable to affect the price that a seller will charge simply by changing the amount that we will buy.  If the average person wants to buy a computer for example, they go on the internet or go to a store, find the computer they want, and pay the price charged.  The buyer typically has no power to force the seller to reduce the price by threatening not to buy the computer.  Essentially everything that we buy is like this.  We are price takers in practically everything we buy.

Sources:

We’ve answered 318,928 questions. We can answer yours, too.

Ask a question