Both buyers and sellers are price takers in a perfectly competitive market because

The price is determined by government intervention and dictated to buyers anti sellers each buyer and teller knows it it illegal to conspire to affect price.

Explanation:

A perfectly competitive firm is a price taker, which implies that it must acknowledge the equilibrium price at which it sells products. In the event that a perfectly competitive firm attempts to charge even a modest sum more than the market price, it will be not able make any sales.