oligopsonistic
/ˌɑːlɪɡɑːpˈsɑːnɪstɪk/
adjective
- Relating to a market situation in which a small number of buyers control most of the demand for a product or service, giving them significant power over prices and terms.
- In an oligopsonistic labor market, a handful of companies dominate hiring and can keep wages low.
- The publishing industry has become more oligopsonistic, with only three major chains buying most books.
- The oligopsonistic power of a few large retailers forces farmers to accept lower prices for their crops.