monopsony Meaning in the Cambridge English Dictionary

Meaning of “monopsony” in the English Dictionary

"monopsony" in Business English

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uk   us   /məˈnɒpsəni/ ECONOMICS
[U] a ​situation in a ​market in which there is only one ​buyer for ​goods or ​servicesoffered 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.
noun [C]
For many ​years the ​steelindustry has ​acted as a monopsonist.
(Definition of monopsony from the Cambridge Business English Dictionary © Cambridge University Press)
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