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A monopsony is a market structure where there is only one dominant buyer, or monopsonist, that controls the majority of the market for a particular product or service. In a monopsonistic market, the monopsonist has the power to set the price that it pays to suppliers and to dictate the terms of trade. Continue Reading Below

    Related Topics

    • Monopolistic Competition
    • Monopoly
    • Oligopoly
    • Pure Competition
    • Specific Types of Market Systems