Oligopsony meaning

ŏlĭ-gŏpsə-nē, ōlĭ-
Frequency:
A market condition in which purchasers are so few that the actions of any one of them can materially affect price and the costs that competitors must pay.
noun
0
0
Control of the purchase of a commodity or service in a given market by a small number of buyers.
noun
0
0
A situation in which a small group of companies share control of the market for buying a good or service. Because there are few buyers, they can jointly exert strong influence over wholesale prices. It is the buy-side counterpart to an oligopoly. Food processers, such as beef and pork processors, may hold oligopsony power.
0
0
An economic condition in which a small number of buyers exert control over the market price of a commodity.
noun
0
0
Advertisement

Origin of oligopsony

  • olig(o)– (mon)opsony

    From American Heritage Dictionary of the English Language, 5th Edition

  • From Ancient Greek ὀλίγοι (oligoi, “few") + ὀψωνία (opsōnia, “purchase"), corresponding to oligo- +"Ž -opsony.

    From Wiktionary