monopsony Synonyms
No Synonyms and anytonyms found
monopsony Meaning
Wordnet
monopsony (n)
(economics) a market in which goods or services are offered by several sellers but there is only one buyer
monopsony Sentence Examples
- 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.
- The merger of two large companies may result in the creation of a monopsony.
- Unions can counterbalance the power of a monopsony by negotiating for higher wages and benefits.
- The monopsony power of a single retailer can force suppliers to accept lower prices.
- Monopsony in the agricultural sector can result in farmers receiving low prices for their produce.
- The monopsony of a government agency can hinder innovation in the supply of a particular good or service.
- Understanding the dynamics of monopsony is crucial for antitrust enforcement and economic policymaking.
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.
