monopsony
1 synonym and 1 antonym for monopsony, grouped by meaning and by how common each one is.
Noun — A market in which there is only one buyer for a product or service.
Synonyms
Rare, literary or technical
Precise, but they will stand out — check the sense before using one.
Synonyms by Meaning
1. noun economics
A market in which there is only one buyer for a product or service.
“In a town with one large factory, the labour market can look like a monopsony.”
Opposites
2. noun economics
A buyer that holds disproportionate power over the sellers it deals with.
“Critics call the retailer a monopsony because its suppliers have nowhere else to sell.”
How to use monopsony
The word patterns that sound natural to a native speaker.
It is a technical term used mainly in economics.
Etymology
The word comes from Ancient Greek, combining mónos, meaning alone, with a verb meaning to buy, and was modelled on monopoly. It was coined by the classics scholar Bertrand Hallward and popularised by the economist Joan Robinson in 1933.
Full origin of monopsony →