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.

Look at other dictionaries:

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  • Monopsony — In economics, a monopsony (from Ancient Greek μόνος (monos) single + ὀψωνία (opsōnia) purchase ) is a market form in which only one buyer faces many sellers. It is an example of imperfect competition, similar to a monopoly, in which only one… …   Wikipedia

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  • monopsony — noun (plural nies) Etymology: mon + opsony (as in oligopsony) Date: 1933 an oligopsony limited to one buyer • monopsonistic adjective …   New Collegiate Dictionary

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  • monopsony — [mə nɒpsəni] noun (plural monopsonies) Economics a market situation in which there is only one buyer. Origin 1930s: from mono + Gk opsōnein buy provisions + y3 …   English new terms dictionary

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