monopsony


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mo·nop·so·ny

 (mə-nŏp′sə-nē)
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.]

mo·nop′so·nist n.
mo·nop′so·nis′tic adj.

monopsony

(məˈnɒpsənɪ)
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]
moˌnopsoˈnistic adj

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]
mo•nop′so•nist, n.

monopsony

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

monopsony

A market in which there are multiple suppliers but only one buyer.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.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"
economic science, economics, political economy - the branch of social science that deals with the production and distribution and consumption of goods and services and their management
Translations

monopsony

[məˈnɒpsənɪ] Nmonopsonio m
References in periodicals archive ?
I've long argued that this would help raise farmgate prices received by our farmers with more competition to buy their products, rather than have a single large processor dictate monopsony prices that squeeze our farmers, as is still common in our countryside.
This was, and remains, crucial to farmers' receiving a fair price, because of what economists call monopsony power.
If employers face little competition for labor (say, in a "company town") and so have monopsony power, they can pay labor less than the workers' marginal product, resulting in some would-be workers opting for leisure.
When there is monopsony power in a labour market, the monopsony wage and employment level are set below the competitive equilibrium, which results in a wage rate below the value of marginal product for each worker.
Although taxpayers outside the beltway may have initially found this practice to be an advantage, there are some troubling consequences of the use of monopsony power.
There is only one scenario in which minimum wage laws have the opportunity to permanently raise the wages of workers - the oligopsony/monopsony model (from now on referred to as the monopsony model).
1) His analysis, however, is only convincing as long as the non-discriminating monopsony is treated with one variable factor of production.
But so are market conditions approaching monopsony - the domination by a single buyer.
Women tend to be hired in sectors with low rents (weak employer capacity to pay), to be impeded by immobility brought about by family position and access to welfare benefits, and thus to be unprotected to monopsony employer power.
18) In those circumstances, however, when a buyer with monopsony power forces those suppliers to disfavor the buyer's rivals, injuring the suppliers as well as the rivals, those sellers would deserve protection from the exercise of buyer power.