oligopsony

[ ol-i-gop-suh-nee ]
/ ˌɒl ɪˈgɒp sə ni /

noun

the market condition that exists when there are few buyers, as a result of which they can greatly influence price and other market factors.

Origin of oligopsony

1940–45; olig- + Greek opsōnía purchase of provisions, shopping
Related formsol·i·gop·so·nis·tic, adjective
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British Dictionary definitions for oligopsony

oligopsony

/ (ˌɒlɪˈɡɒpsənɪ) /

noun plural -nies

a market situation in which the demand for a commodity is represented by a small number of purchasers
Derived Formsoligopsonistic, adjective

Word Origin for oligopsony

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