oligopsony
Word Rarity
Very rare
Frequency: Zipf frequency 0.00 in modern English
16
Scrabble Score
10
Letters
2
Syllables
8
Unique Chars
Meaning
noun
An economic condition in which a small number of buyers exert control over the market price of a commodity.
Example Sentences
- "This policy combines a) replacing an oligopsony of school districts with a state monopsonist and b) an identical wage in each school district."
Etymology
From Ancient Greek ὀλίγοι (olígoi, “few”) + ὀψωνία (opsōnía, “purchase”).