what is a price taker behavior 
price takers are characterized by an inability to control prices they do not have leverage or power to negotiate prices rather they must accept the prevailing prices or not engage in the market at all the bottom linein economics price takers refer to firms or individuals that must accept prevailing market prices examples of price takers and their opposite price makers are widely prevalent throughout every sector from retail shopping to oil and commodities markets in a hypothetical market with perfect competition all participants are price takers 