monopsonistic
/ˌmɑnɑpsəˈnɪstɪk/
adjective
- Relating to or characteristic of a market situation in which there is only one buyer for a particular product or service, giving that buyer significant control over price and terms.
- Monopsonistic conditions in the labor market can lead to lower salaries for workers.
- Economists studied the monopsonistic behavior of the large retailer in the small town.
- The company's monopsonistic power allowed it to set very low wages for local farmers.