Home > Term: market power
market power
1. Ability of a firm or other market participant to influence price by varying the amount that it chooses to buy or sell. 2. Ability of a country to influence world prices by altering its trade policies.
- Part of Speech: noun
- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
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Creator
- Noroc
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(Silver) 911 points - 100% positive feedback
