monopsony

monopsony
—monopsonist, n. —monopsonistic, adj.
/meuh nop"seuh nee/, n., pl. monopsonies.
the market condition that exists when there is one buyer. Cf. duopsony, oligopsony.
[1930-35; MON- + Gk opsonía shopping, purchase of provisions]

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In economic theory, market situation in which there is only one buyer.

An example of pure monopsony is a firm that is the only buyer of labour in an isolated town; such a firm would be able to pay lower wages to its employees than it would if other firms were present. Though cases of pure monopsony are rare, monopsonistic elements are found wherever there are many sellers and few purchasers.

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      in economic theory, market situation in which there is only one buyer. An example of pure monopsony is a firm that is the only buyer of labour in an isolated town. Such a firm is able to pay lower wages than it would under competition. Although cases of pure monopsony are rare, monopsonistic elements are found wherever there are many sellers and few purchasers.

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Universalium. 2010.

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