Oligopsony

Origin

From Ancient Greek ὀλίγοι (oligoi, "few") + ὀψωνία (opsōnia, "purchase"), corresponding to - + opsony + -.

Full definition of oligopsony

Noun

1. An economic condition in which a small number of buyers exert control over the market price of a commodity.

Related terms

• oligopsonist, oligopsonistic, oligopsonistically