oligopsony

American  

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

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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oligopsony British  

/ ˌɒlɪˈɡɒpsənɪ /

noun

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

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Other Word Forms

• oligopsonistic adjective

Etymology

Origin of oligopsony

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