Oligopsony (noun)
ol-ig-op-son-ee
A state of the market in which only a small number of buyers exists for a product.
1940s: from oligo- ‘small number’ + Greek opsōnein ‘buy provisions’, on the pattern of monopsony.
Example sentences
“Economist call this kind of market an oligopsony.”
Word of the Day - Semiquincentennial (noun) se-mee-kwin-sen-tee-nee-al
