Learn what a price taker is, see examples in competitive markets like grain and oil, and understand how they differ from price makers in economics.

A solid understanding of economics and finance can give small-business owners a leg up in managing their companies. Competition between different firms is a major topic in economics that is also of ...

Competition with other firms is a key aspect of running a business of any size, from a brand new venture to a large corporation. In competitive markets, companies have to fight over the business of ...

Learn how market power allows firms to influence prices by altering supply or demand, enhance profit margins, and control market barriers. Discover real-world examples.

New competition policy seeks to promote competition and increase market efficiency. In fact, degree of price transmission between farmers and final consumers depends on degree of competition in ...