In
economics, a
monopsony (from Ancient Greek μόνος (
mónos) "single" + ὀψωνία (
opsōnía) "purchase") is a
market structure in which only one buyer interacts with many would-be sellers of a particular product. In
microeconomic theory of monopsony, a single entity is assumed to have market power over terms of offer to its sellers, as the only purchaser of a good or service, much in the same manner that a
monopolist can influence the price for its buyers in a
monopoly, in which only one seller faces many buyers.
