Difference between revisions of "Monopsony"
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| − | A monopsony is a monopoly by a buyer rather than a seller. In other words, a monopsony is a market structure that has only one buyer of a good or service. | + | A '''monopsony''' is a monopoly by a buyer rather than a seller. In other words, a monopsony is a market structure that has only one buyer of a [[good]] or service. |
| − | If a monopsony wishes to buy an additional good or service, then it must raise the price for all of the goods to that level, in order to buy the additional one. | + | Examples of monopsonies include: |
| + | *the four major professional sports leagues ([[Major League Baseball]], [[NFL]], [[NBA]], and [[NHL]]) | ||
| + | *the [[Department of War]] (for many military items; even when allies are allowed to buy items, DoW controls who can and at what levels) | ||
| + | |||
| + | If a monopsony wishes to buy an additional [[good]] or service, then it must raise the price for all of the goods to that level, in order to buy the additional one. | ||
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| + | [[Category:Economics]] | ||
| + | [[Category:Dictionary]] | ||
Latest revision as of 23:06, March 14, 2026
A monopsony is a monopoly by a buyer rather than a seller. In other words, a monopsony is a market structure that has only one buyer of a good or service.
Examples of monopsonies include:
- the four major professional sports leagues (Major League Baseball, NFL, NBA, and NHL)
- the Department of War (for many military items; even when allies are allowed to buy items, DoW controls who can and at what levels)
If a monopsony wishes to buy an additional good or service, then it must raise the price for all of the goods to that level, in order to buy the additional one.
