monopsony
A market situation in which there is only one buyer for a productA market situation in which there is only one buyer for a product.
» Big business or big government often leads to monopoly and monopsony.
Meaning
2 sensesA market situation in which there is only one buyer for a product.
Monopson
монопсо́нияmonopsónija
монопсоніяmonopsonija
(economics) a market in which goods or services are offered by several sellers but there is only one buyer
A buyer with disproportionate power.
Examples
1 sentencesBig business or big government often leads to monopoly and monopsony.
Translations
9 languagesBy meaning 1
By meaning 1
By meaning 1
Origin
From Ancient Greek μόνος (mónos, “alone, solitary; singular, unique”) + ὀψωνέω (opsōnéō, “From Ancient Greek μόνος (mónos, “alone, solitary; singular, unique”) + ὀψωνέω (opsōnéō, “to buy fish or victuals in general”) + -y, modelled after monopoly. ὀψωνέω is from ὄψον (ópson, “delicacies”) + ὠνέομαι (ōnéomai, “to buy, purchase”). The English word was coined by British classics scholar Bertrand Hallward (1901–2003), and popularized by British economist Joan Robinson (1903–1983) in her book The Economics of Imperfect Competition (1933): see the quotation.
Wiktionary, CC BY-SA 4.0 · source
Forms
plural: monopsonies| Singular | monopsony |
|---|---|
| Plural | monopsonies |
regular