Definition of monopsony in English:

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monopsony

Pronunciation: /məˈnɒpsəni/

noun (plural monopsonies)

Economics
A market situation in which there is only one buyer.
Example sentences
  • Using modern terms, in labor markets oligopsony or monopsony emerges, and market imperfections and a zero reservation price for labor exist.
  • One way of attending to this need for prudent regulation would be to establish a monopsony, a situation where only one buyer exists for the products of several sellers.
  • Now, whatever their other inefficiencies might or might not be, law reviews are not monopsonies, since they allow multiple submissions.

Origin

1930s: from mono- 'one' + Greek opsōnein 'buy provisions' + -y3.

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