As we have stated in the past, Fiji is a price taker
and we have no control over what happens in the international marketplace.
Nowhere has China's move from price taker
to maker been more obvious than in daily physical crude oil trading.
We are not going to be the price taker
anymore, we're going to be the price make," Cramer said, who also wants to see a legislation passed on approving the long delayed Keystone XL pipeline that would stretch across the US from Canada to Mexico and could transport 100,000 barrels a days of North Dakotan oil.
The UK is now a net importer of gas for example, and therefore a price taker
- we have to pay the going rate for Liquified Natural Gas (LNG) and pipeline gas.
Rhona O'Connell, Head of Metals Research and Forecasting at Thomson Reuters, noted that the first half of 2013 was the period in which gold exchange traded funds, with their day-to-day transparency, became an increasingly important price maker, rather than a price taker
, as an ever more unsettled professional gold market responded to bearish external financial forces.
This means that China is moving in the direction of ceasing to be merely a price taker
and will gain access to information about what drives short-term price shifts that influence its import costs.
Instead of being a pure price taker
, China will have some insight into short-term fundamental shifts that affects either directly or indirectly the cost of the oil the country must import.
Perhaps a humbler approach in textbooks, one that details the deficiencies of the distinction between price taker
and price searcher and that points the student in the direction of learning more about what we do not currently know, will encourage future generations of students and economists to tackle these issues.
Africa is a price taker
and therefore accepts whatever price is offered by the consumers of its products--mostly raw materials--which Africa cannot, as yet, process into finished goods at home.
It's a model in which many firms compete in a given market but none is strictly a price taker
If you are trading shares in a $1 million portfolio, you are essentially a price taker
, dealing on private client terms.
Years ago, the company decided that rather than existing as a price taker
on iron castings, it was going to make a name for itself by excelling at what goes into a part before any tools are built or castings are poured.