2 ms·
> monopsony I had to look it up as well. I assumed it was a play on words about Microsoft, Nintendo, and Sony (the three big video game console players).
by darknavi 4mo ago
> monopsony
I had to look it up as well. I assumed it was a play on words about Microsoft, Nintendo, and Sony (the three big video game console players).
- lesuorac 4mo agoFor future people to look it up. Monopoly is a single seller. Monopsony is a single buyer.
- lesuorac 4mo agoGiven how popular this has gotten I guess I should point out that it's wrong. There isn't a single seller so the proper ones are Oligopoly - Market with few sellers Oligopsony - Market with few buyers "few" really meaning that they have pricing power as opposed to 3 companies.