Word of the Week

Monopsony (n.) a market condition in which there is only one buyer. While a monopoly is a market condition where there is only one seller, while a monopsony is when there is only one buyer, e.g. sometimes an employer may be the only buyer of labor in a place. Another example is the winemaker Ernest and Julio Gallo because they own so many wineries in an area so they have more power than the vineyard.


“monopsony.” (2020). Investopedia. Retrieved from https://www.investopedia.com/terms/m/monopsony.asp on July 1, 2021.

About smkelly8

writer, teacher, movie lover, traveler, reader
This entry was posted in words and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.