monopsony Antonyms
No Synonyms and anytonyms found
Meaning of monopsony
Wordnet
monopsony (n)
(economics) a market in which goods or services are offered by several sellers but there is only one buyer
FAQs About the word monopsony
(economics) a market in which goods or services are offered by several sellers but there is only one buyer
No synonyms found.
No antonyms found.
The pharmaceutical industry is an example of a monopsony, where a single buyer holds significant market power.
In a labor market with a monopsony, the employer can set wages below their competitive level.
Monopsonies can lead to lower wages and reduced job opportunities for workers.
Government policies aimed at promoting competition can help prevent monopsony power.
