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An oligopsony (from Greek ὀλίγοι (oligoi) "few" and ὀψωνία (opsōnia) "purchase") is a market form in which the number of buyers is small while the number of sellers in theory could be large. This typically happens in a market for inputs where numerous suppliers are competing to sell their product to a small number of (often large ...
Apr 23, 2022 · An oligopsony is a market for a product or service which is dominated by a few large buyers. The concentration of demand in just a few parties gives each substantial power over the sellers and...
- Will Kenton
May 5, 2024 · An oligopsony is a market for a product or service dominated by a few large buyers. The concentration of demand means each buyer has power over the seller to keep prices low. An oligopsony is the opposite of an oligopoly, where the market is dominated by a few sellers that inflate prices in the absence of competition from other supply sources.
The meaning of OLIGOPSONY is a market situation in which each of a few buyers exerts a disproportionate influence on the market. Did you know?
Jul 6, 2011 · Oligopsony Definition - Economics Help. 6 July 2011 by Tejvan Pettinger. Oligopsony occurs when a few firms dominate the purchase of goods / services / factors of production. This means that the few firms have considerable market power in paying low prices for inputs. Example – supermarket industry.
Monopoly. Oligopoly. Buyers. Monopsony. Oligopsony. An oligopoly (from Ancient Greek ὀλίγος (olígos) 'few', and πωλέω (pōléō) 'to sell') is a market in which control over an industry lies in the hands of a few large sellers who own a dominant share of the market.
