In economic terminology, a buyer or seller who cannot affect the market price is called a:

Question

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A buyer or seller who cannot affect the market price is called a price taker because they have to accept the prevailing market price for the good or service. They do not have the market power to set or influence the price. Price makers, on the other hand, have the ability to set or influence the price due to their market power or unique product or service. Price setters are similar to price makers and have the ability to set prices, but they typically do so through negotiation or other market mechanisms. Price signalers are individuals or firms who send signals to the market about their intentions, but they do not set or influence prices directly.

In Economic Terminology, a Buyer or Seller Who Cannot Affect