3 ms·
For future people to look it up. Monopoly is a single seller. Monopsony is a single buyer.
by lesuorac 5mo ago
For future people to look it up.
Monopoly is a single seller.
Monopsony is a single buyer.
- lesuorac 5mo 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.