Monopsony
noun
A type of market where there is only one buyer for a product or service, giving that buyer significant control over prices.
In a monopsony, the single buyer can dictate terms to the sellers.
Often appears as...
- monopsony power
- labor monopsony
Usage tips
Neutral
General
noun
A type of market where there is only one buyer for a product or service, giving that buyer significant control over prices.
In a monopsony, the single buyer can dictate terms to the sellers.
Often appears as...
- monopsony power
- labor monopsony
Usage tips
Neutral
General
Definition 1 of 1
Pro Tip 1/3Market Dynamics
Understanding how monopsony affects market behaviors can help you grasp economic balances.
In a monopsony, sellers often have to adjust their expectations due to the buyer's power.
Pro Tip 2/3Wage Disparities
Be aware of how monopsonies can create wage inequalities.
In a labor monopsony, workers might receive lower wages than in competitive markets.
Pro Tip 3/3Influence of Monopsonies
Think about the implications of a monopsony in various sectors.
The health care industry often experiences monopsonistic conditions.
Pro Tip 1/3Market Dynamics
Understanding how monopsony affects market behaviors can help you grasp economic balances.
In a monopsony, sellers often have to adjust their expectations due to the buyer's power.
Pro Tip 2/3Wage Disparities
Be aware of how monopsonies can create wage inequalities.
In a labor monopsony, workers might receive lower wages than in competitive markets.
Pro Tip 3/3Influence of Monopsonies
Think about the implications of a monopsony in various sectors.
The health care industry often experiences monopsonistic conditions.
Pro Tip 1/3Market Dynamics
Understanding how monopsony affects market behaviors can help you grasp economic balances.
In a monopsony, sellers often have to adjust their expectations due to the buyer's power.
Pro Tip 2/3Wage Disparities
Be aware of how monopsonies can create wage inequalities.
In a labor monopsony, workers might receive lower wages than in competitive markets.
Pro Tip 3/3Influence of Monopsonies
Think about the implications of a monopsony in various sectors.
The health care industry often experiences monopsonistic conditions.
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