Definition of monopsony in English:
noun (plural monopsonies)Economics
A market situation in which there is only one buyer.
- 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.
Definition of monopsony in:
- US English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Australia
Most popular in Malaysia
Most popular in India