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In economics, a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers. The microeconomic theory of monopsony assumes a single entity to have market power over all sellers as the only purchaser of a good or service.
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.
May 1, 2024 · What Is a Monopsony? A monopsony is a market condition in which there is only one buyer, the monopsonist. Like a monopoly , a monopsony also has imperfect market...
noun. ECONOMICS uk / məˈnɒps ə ni / us. Add to word list. [ U ] a situation in a market in which there is only one buyer for goods or services offered by several sellers: Since most of the biggest marketplaces are run by buyers, they tend to risk monopsony. [ C ]
a situation in a market in which there is only one buyer for goods or services offered by several sellers: Since most of the biggest marketplaces are run by buyers, they tend to risk monopsony. [ C ] a buyer who is the only one in a market in which the goods or services are offered by several sellers:
A Monopsony is either a market where only one buyer exists or where a single buyer dominates the market. We often refer to it as a buyer’s monopoly. The term refers to just the number of buyers. In this type of market, there may be many suppliers. The monopsonist can call the shots regarding prices and product descriptions.
