monopsony

[muh-nop-suh-nee]
noun, plural monopsonies.
the market condition that exists when there is one buyer.
Compare duopsony, oligopsony.


Origin:
1930–35; mon- + Greek opsōnía shopping, purchase of provisions

monopsonist, noun
monopsonistic, adjective
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World English Dictionary
monopsony (məˈnɒpsənɪ)
 
n , pl -nies
a situation in which the entire market demand for a product or service consists of only one buyer
 
[C20: mono- + Greek opsōnia purchase, from opsōnein to buy]
 
monopso'nistic
 
adj

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Example sentences
Silly suggestion of bartering considering how physicians operate in a market where insurance groups have monopsony power.
Doctor's receive a fixed fee for a service by the insurers, which have monopsony power.
But the government has a monopsony in intelligence for national security.
So a counterbalancing monopsony can actually reduce the deadweight loss created by providers.
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