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Dollar Votes
The concept in economics that consumers "vote" for products and services they desire through the expenditure of their money.
Homogeneous Product
A product that is identical in quality and specifications no matter its source, making it indistinguishable across producers.
Price Searchers
Firms or individuals who determine the selling price of their goods or services with some degree of market power, enabling them to influence prices.
Price Takers
Participants in a market who accept the market price as given and have no influence over it, typically because of the competitive nature of the market.
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