monopsony

American  

[muh-nop-suh-nee] / məˈnɒp sə ni /

noun

plural

monopsonies

1. the market condition that exists when there is one buyer.

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monopsony British  

/ məˈnɒpsənɪ /

noun

1. a situation in which the entire market demand for a product or service consists of only one buyer

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Other Word Forms

• monopsonist noun
• monopsonistic adjective

Etymology

Origin of monopsony

First recorded in 1930–35; mon- + Greek opsōnía “shopping, purchase of provisions”

Example Sentences

A monopsony is a market situation in which there is only one buyer in a market.

From Seattle Times

But what is new is a monopsony case focused on the highest-paid sellers, such as Stephen King.

From Salon

The trial was not about whether the deal would create a monopoly, but about whether it would lead to a monopsony, or too much control over suppliers — in this case, top-selling writers.

From New York Times

If you sell salami, and there is only one sandwich shop around to buy it, that’s a monopsony.

From Washington Post

A monopoly refers to a seller that has too much power over consumers; a monopsony has too much power over suppliers.

From New York Times