oligopsony

[ol-i-gop-suh-nee]

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.

oligopsony

/ ˌɒlɪˈɡɒpsənɪ /

noun

1. a market situation in which the demand for a commodity is represented by a small number of purchasers

Other Word Forms

• oligopsonistic adjective

Word History and Origins

Origin of oligopsony¹

First recorded in 1940–45; olig- + Greek opsōnía “purchase of provisions, shopping”

Word History and Origins

Origin of oligopsony¹

C20: from _oligo- + -opsony, from Greek opsōnia purchase of food