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oligopsonyenUK
ol·i·gop·so·ny O0066000 (ŏl′ĭ-gŏp′sə-nē, ō′lĭ-)n. pl. ol·i·gop·so·nies 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.
[olig(o)- + (mon)opsony.]
ol′i·gop′so·nis′tic (-nĭs′tĭk) adj.oligopsony (ˌɒlɪˈɡɒpsənɪ) n, pl -nies (Economics) a market situation in which the demand for a commodity is represented by a small number of purchasers[C20: from oligo- + -opsony, from Greek opsōnia purchase of food] ˌoliˌgopsoˈnistic adjol•i•gop•so•ny (ˌɒl ɪˈgɒp sə ni)
n., pl. -nies. the market condition that exists when there are few buyers, who can thereby greatly influence price and other market factors. [1940–45; olig- + Greek opsōnía purchase of provisions, shopping] ol`i•gop`so•nis′tic, adj. oligopsonya market condition in which there are few buyers. — oligopsonist, n. — oligopsonistic, adj.See also: TradeTranslationsoligopsonyenUK
OligopsonyA Market characterized by a small number of large buyers who control all purchases and therefore the market price of a good or service.OligopsonyA market in which there are only a few, very large buyers. Sellers in an oligopsony may have difficulty remaining in business as the buyers have a great deal of power to dictate prices. This may affect both the profit margin and other factors, such as labor conditions or wages. It is the opposite of an oligopoly.oligopsony A market in which a limited number of buyers follow the leadership of a single large firm. For example, in a town or region, a large bank may set rates on certificates of deposit that are then adopted by smaller banks and savings and loan associations on their own certificates of deposit. Compare oligopoly.oligopsony a form of BUYER CONCENTRATION, that is, a MARKET situation in which a few large buyers confront many small suppliers. Powerful buyers are often able to secure advantageous terms from suppliers in the form of BULK-BUYING price discounts and extended credit terms. See also OLIGOPOLY, BILATERAL OLIGOPOLY, COUNTERVAILING POWER. |