In what type of market does price takers refer to buyers and sellers?

Question

Quizplus · Accepted Answer

Price takers refer to both buyers and sellers in a perfectly competitive market, where there are many small firms producing an identical product and no one has enough market power to influence the price. In such a market, both buyers and sellers accept the prevailing market price and have no control over it. In contrast, buyers and sellers in other market structures such as monopolistic competition, oligopoly, or monopoly have some degree of market power and can influence the price.

In What Type of Market Does Price Takers Refer to Buyers