Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

Search the Dictionary of Terms

Search Results: 1741-1750 of 2469 results

  • Price Ceiling

    Upper limit imposed on the price of a good. The highest price that a buyer is willing to pay. (Business, 2002)

  • Price Competition

    Selection of a contractor, from two or more suppliers, based either solely on prices submitted, or on the final prices resulting from a negotiation with all contractors within a competitive range.

  • Price Control

    The fixing or restricting of prices, especially by a government agency. (Business, 2002)

  • Price Differentiation

    A pricing strategy in which a company sells the same product at different prices in different markets. (Business, 2002)

  • Price Discrimination

    The sale of an identical good at different prices to different consumers by a single seller. (Business, 2002)

  • Price Elasticity

    The responsiveness of demand to price changes. An elastic situation is one in which small changes in prices charged result in large differences in the quantity demanded. (ISM, 2000)

  • Price Fixing

    Explicit agreements among producers regarding the prices at which goods are to be sold.

  • Price Index

    A ratio expressing the relationship between the price of a commodity at a given point in time to its price during a specified base period.

  • Price Leadership

    An oligopolistic pricing pattern that allows one firm to establish the market price for all firms in the industry. (Business, 2002)

  • Price prevailing at the Date of Shipment

    Sales agreement that states the selling price may be modified by the supplier/seller between the order and the shipment dates.

    See Also: Open-End Pricing, Price At Time of Delivery

Advertisement

Advertisement