monopsony

Noun

Meaning

(economics) a market in which goods or services are offered by several sellers but there is only one buyer

Source: WordNet

Synonyms

Hypernyms

Examples

A monopoly is distinguished from a monopsony, in which there is only one buyer of a product or service; a monopoly may also have monopsony control of a sector of a market. Source: Internet

The idea of "monopsony," proposed by Cambridge economist Joan Robinson in 1933, that a single buyer could out-power the market of multiple sellers, became a strong anti-chain rhetorical device. Source: Internet

The related terms oligopoly and monopsony are similar in meaning and this is the type of situation that antitrust laws are intended to eliminate. Source: Internet

Close letter words and terms