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In economics, an '''oligopsony''' is a demand-side [[market structure]] characterized by a small number of buyers. It is most commonly seen in [[factor markets]] wherein a few [[firms]] compete for [[factors of production]]. In such a situation, the oligopsonists retain a significant amount of [[market power]], as they can drive prices down by spurring competition between sellers.
The supply-side equivalent of oligopsony is [[oligopoly]], in which a market is dominated by a small number of sellers.
The supply-side equivalent of oligopsony is [[oligopoly]], in which a market is dominated by a small number of sellers.