Meaning of the word "bargaining power" in English

What does "bargaining power" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

bargaining power

US /ˈbɑːr.ɡɪn.ɪŋ ˌpaʊ.ɚ/

UK /ˈbɑː.ɡɪn.ɪŋ ˈpaʊər/

the ability of one party to influence the terms and conditions of a negotiation with another party

Example:

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The workers gained significant bargaining power after forming a union.

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A strong economy gives sellers more bargaining power.

Synonym:

leverage influence clout sway advantage