oligopsonies
/ˌɑlɪˈɡɑpsəniz/
noun
- Plural of oligopsony; market situations where a small number of buyers control most of the demand for a product or service.
- In some countries, oligopsonies in the coffee market leave growers with little bargaining power.
- Economists study oligopsonies to understand how buyer power affects prices and wages.
- The agricultural industry often sees oligopsonies where a few large grocery chains buy from many small farmers.