What do you mean by monospony?

Monopsony refers to a market structure, where large number of buyers produce to sell their respective products to one single (yet big) buyer. For example, there are large number of labourers who sell their product (labour) to one industry (the monopsonist). Government can be regarded as another example for monopsony. There are many firms that produce war-goods such as artilleries, guns, weapons, aircraft, etc. and compete to sell their finished products to government. Thus, in this example, government is a monopsony, as it is the only buyer.  

Monopsony differs from monopoly in the sense that while in the former (monopsony) there exists only one buyer, whereas, in the latter, there exists only one seller.

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