Examlex
Explain how a country can get involved in a debt to the World Bank, a readjustment program, cancel most of its social programs, and get into a race to the bottom with other countries and wind up making conditions worse for its own people.
Competitive Price-Taker
A firm or individual in a market structure that has no control over the market price and must accept the prevailing market price for its product or service.
Output
The total amount of goods or services produced by a person, machine, company, or economy.
Price
The sum of money needed to buy a product or service.
Competitive Price-Taker
A firm in a competitive market that has no ability to influence the price of the product it sells; it must take the market price as given.
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