Definition of price-taker
noun
Economics
a company that must accept the prevailing prices in the market of its products, its own transactions being unable to affect the market price.
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An individual or company which is not influential enough to affect the price of an item. For example, most investors are price takers, because their individual actions in buying and selling stocks are not enough to change the price of the security. A company is considered to be a price taker if the price it sets and quantity of goods it produces do not have any effect on the market price, and therefore the company is usually forced to go with the market price if they want to sell its goods.
Read more: http://www.investorwords.com/6890/price_taker.html#ixzz2KGsjntLf
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Price takers have no control over the price that they may charge in the market. If such a firm was to charge a price above that established by the market, consumers would simply buy elsewhere.
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