What term refers to the ability of individual customers to negotiate purchase prices that extract profits from sellers?
A)Substitutes and Complements
B)Competition
C)Customer power
D)Seller power
E)Buyer power

Question

Quizplus · Accepted Answer

Buyer power refers to the ability of individual customers to negotiate purchase prices that extract profits from sellers. This can limit the profitability and competitiveness of a seller if they are unable to resist the bargaining power of their customers.

What Term Refers to the Ability of Individual Customers to Negotiate