Dictionary of Procurement Terms

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Search Results: 111-120 of 248 results for “P”

  • 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

  • Price Protection

    Sales agreement granting purchaser any reduction in price the supplier may establish prior to shipment of the goods; sometimes extended for a period beyond the date of shipment.

  • Price Range

    The variety of prices at which competitive products or services are available in the market. (Business, 2002)

  • Price Rebate

    A reduction in price, usually given after the completion of the contract and based on the quantity or value of goods purchased.

  • Price Reduction

    A decrease in the assigned value for a commodity or service exchanged relative to its worth determined in some previous time period. The act of reducing the agreed upon value of selling price where the incurred price paid is lower based upon what was previously paid; usually refers to a lower price paid by the buyer.

    See Also: Cost Reduction, Cost Savings