Monopsony
A market similar to a monopoly except that a large buyer not seller controls a large proportion of the market and drives the prices down. Sometimes referred to as the buyer's monopoly. Investopedia Says:
People have accused Ernest and Julio Gallo (the big wine makers) of being a monopsony. They had such power buying grapes from growers, that sellers had no choice but to agree to their terms. Related Terms:
Bilateral Monopoly
Duopsony
Monopoly
Oligopoly
Oligopsony |