Focus on the pronunciation of monopsony
English definition of “monopsony”
/məˈnɒpsəni/ noun ECONOMICS
› [U] a situation in a market in which there is only one buyer for goods or services offered by several sellers: Since most of the biggest marketplaces are run by buyers, they tend to risk monopsony.
› [C] a buyer who is the only one in a market in which the goods or services are offered by several sellers: People have accused the big wine buyer of being a monopsony. monopsonist noun [C] › For many years the steel industry has acted as a monopsonist.