Examlex
Who described the cynic as a "scout"?
Price Taker
A market participant that accepts market prices as given and has no influence to alter the price of the good or service.
Buyer
A person or organization that purchases goods or services.
Law Of Demand
The economic principle stating that, all else being equal, as the price of a good or service decreases, consumer demand for it will increase, and vice versa.
Quantity Demanded
The quantity demanded is the amount of a good or service that consumers are willing and able to purchase at a given price, holding all else constant.
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