different between buyer vs monopsony

English

Etymology

From buy +? -er

Pronunciation

• (UK) IPA^(key): /?ba?.?(?)/
• (US) IPA^(key): /?ba?.?/, IPA^(key): [?baj?]
• Rhymes: -a??(r)

Noun

buyer (plural buyers)

1. A person who makes one or more purchases.

   Every person who steps through the door is a potential buyer, so acknowledge their presence.

2. (retailing) A person who purchases items for resale in a retail establishment.

   The supermarket's new buyer decided to stock a larger range of vegetarian foods.

3. (manufacturing) A person who purchases items consumed or used as components in the manufacture of products.

Synonyms

• purchaser
• (retailing and manufacturing senses): purchasing agent

Derived terms

• buyer's remorse

Translations

Anagrams

• burye, rebuy

English

Etymology

From Ancient Greek ????? (mónos, “alone, solitary; singular, unique”) + ?????? (ops?né?, “to buy fish or victuals in general”) + -y, modelled after monopoly. ?????? is from ???? (ópson, “delicacies”) + ??????? (?néomai, “to buy, purchase”). The English word was coined by British classics scholar Bertrand Hallward (1901–2003), and popularized by British economist Joan Robinson (1903–1983) in her book The Economics of Imperfect Competition (1933): see the quotation.

Pronunciation

• (Received Pronunciation) IPA^(key): /m??n?ps?ni/
• (Received Pronunciation) IPA^(key): /m??n?ps?ni/
• Hyphenation: mon?op?so?ny

Noun

monopsony (plural monopsonies)

1. (economics) A market situation in which there is only one buyer for a product. [from 1930s]

   Antonym: monopoly

   Coordinate terms: duopsony, oligopsony
2. (economics) A buyer with disproportionate power.

Derived terms

• monopsonic
• monopsonist
• monopsonistic
• monopsonistically

Translations

Further reading

• monopsony on Wikipedia.Wikipedia