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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
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.
An oligopsony is a situation when there are only a small number of buyers in a market. This means that a limited number of people have market power and are able to lower the price they pay for a good or service due to the lack of competition .
Mar 28, 2024 · An oligopsony is a market structure where a small number of buyers hold significant sway over the supply of a particular product or service. This concentration of buying power enables these buyers to exert considerable influence over pricing and other terms of trade.
Oct 1, 2019 · Updated October 1, 2019. What is an Oligopsony? An oligopsony is a market in which only a few buyers purchase all of an industry's output. How Does an Oligopsony Work? Let's assume that Company XYZ, Company ABC and Company 123 buy 95% of the country's carrots.
It makes sense, then, that oligopsony refers to a buyer's market in which the seller is subjected to the potential demands of a limited pool of buyers. Another related word is monopsony , used for a more extreme oligopsony in which there is only a single buyer.
