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oligopsony

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

1940–45; olig- + Greek opsōnía purchase of provisions, shopping
Related formsol·i·gop·so·nis·tic, adjective
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

British Dictionary definitions for oligopsony

oligopsony

noun plural -nies
  1. a market situation in which the demand for a commodity is represented by a small number of purchasers
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Derived Formsoligopsonistic, adjective

Word Origin

C20: from oligo- + -opsony, from Greek opsōnia purchase of food
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012