monopsony(redirected from Monopsonistic competition)
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Related to Monopsonistic competition: Monopolistic competition
n. pl. mo·nop·so·nies
A market situation in which the product or service of several sellers is sought by only one buyer.
[mon(o)- + Greek opsōniā, purchase of food; see duopsony.]
n, pl -nies
(Economics) a situation in which the entire market demand for a product or service consists of only one buyer
[C20: mono- + Greek opsōnia purchase, from opsōnein to buy]
mo•nop•so•ny(məˈnɒp sə ni)
n., pl. -nies.
the market condition that exists when there is only one buyer for a product or service from a large number of sellers.
[1930–35; mon- + Greek opsōnía shopping, purchase of provisions]
the market condition that exists when only one buyer will purchase the products of a number of sellers. — monopsonist, n. — monopsonistic, adj.See also: Trade
A market in which there are multiple suppliers but only one buyer.
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|Noun||1.||monopsony - (economics) a market in which goods or services are offered by several sellers but there is only one buyer|
market, marketplace, market place - the world of commercial activity where goods and services are bought and sold; "without competition there would be no market"; "they were driven from the marketplace"