monopsony

Definitions

Commerce

Economics

  • noun a situation in which there is only one buyer of a good or service and many suppliers, so that the buyer can obviously control the prices he or she pays

Health Economics

  • (written as Monopsony)
    A situation in which a resource user is sufficiently dominant in the market for the price of resources to be affected as this user's demand rises or falls.

Law

  • noun a situation where one person or company controls all the purchasing in a market
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