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 ?
They suggest that the government's position as a monopsonistic buyer and the long-term, repetitive nature of the contracting relationship may have kept merged defense firms from exercising their newfound market power to generate additional rents.
(282) Further, labor output may not be as responsive as manufacturing is to a monopsonistic price reduction.
But because labor markets are monopsonistic that is, the buyer, or employer, has a great deal more bargaining power than the seller, or employee a few employers raising wages on their own won't allow an Oklahoma city tocompete for a ready and talented workforce.
But if employers are monopsonistic, as described by Manning (2003) for example, willingness to quit will be weakened and employers may opt to vary hours in response to demand shocks to maximise short-run profits, particularly if they have not invested heavily in worker-specific human capital.
Not only is the military goods market typically monopsonistic on the demand side, but it is usually characterized by significant market power on the supply side as well.
For instance, job search costs can engender monopsonistic markets in which firms can set wages below the competitive level without losing workers (Burdett and Mortensen 1998).
But, with modern transportation, all such monopsonistic powers must evaporate.
In the English NHS, a monopsonistic purchaser system, authorities negotiated the Quality and Outcomes Framework with primary care providers in an effort to enhance clinical quality and value.
Unlike large enterprises, they have little, if any, monopolistic power to control their selling prices, or monopsonistic power to dictate the wages they pay.
(23) Rather, as a consequence of isolation, access to alternate purchasers or suppliers was extremely limited, creating de facto, if not de jure, monopolistic and monopsonistic conditions.
The owner of a small agency that gets an LTSS ombudsman contract or similar contract may have to face the reality that it's dealing with a huge, unpredictable, monopsonistic client.
Monopsonistic elements are found wherever there are many sellers and few purchasers.