oligopsony

oligopsony

[ol-i-gop-suh-nee]
noun
the market condition that exists when there are few buyers, as a result of which they can greatly influence price and other market factors.
Compare duopsony, monopsony.


Origin:
1940–45; olig- + Greek opsōnía purchase of provisions, shopping

oligopsonistic, adjective
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oligopsony (ˌɒlɪˈɡɒpsənɪ)
 
n , pl -nies
a market situation in which the demand for a commodity is represented by a small number of purchasers
 
[C20: from oligo- + -opsony, from Greek opsōnia purchase of food]
 
oligopso'nistic
 
adj

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