Share this entry

Share this page

monopsony

Line breaks: mon|op¦sony
Pronunciation: /məˈnɒpsəni
 
/

Definition of monopsony in English:

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.

Definition of monopsony in:

Share this entry

Share this page

 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources

Word of the day snarf
Pronunciation: snɑːf
verb
eat or drink quickly or greedily