monopsonist

Meanings

• A market structure where a single buyer purchases all the goods or services available in that market.

  - "The local steel mill is the only buyer in the market, making it a monopsonist."
  - "In some rural areas, a single grocery store may be the only buyer for agricultural produce, creating a monopsonist market structure."

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Rhymes

Words rhyming with monopsonist
monopolist , historian , pianist , organist

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Homophones

Words having the same pronunciation but different meanings, origins, or spelling,

1. monopolist, monopsonist
   

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Variants

List of all variants of monopsonist that leads to same result
monopsonies , monopsonistic , monopsony

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Forms

Different forms of the word (e.g., verb conjugations, plural forms, comparative/superlative forms for adjectives).

monopsonist, monopsony, monopsonistic market

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Etymology

origin and the way in which meanings have changed throughout history.

From the Greek words monos, meaning 'single', and psonos, meaning 'voice' or 'sound'. Together, these words create the term monopsonist, describing a market structure where a single buyer has the power to significantly influence the price of goods or services in that market.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Monopoly: Monopoly is a market structure where a single seller has the power to significantly influence the price of goods or services in that market. Monopolies can exist due to various reasons, such as government grants of monopolies, natural monopolies that arise due to economies of scale or other factors, or monopolies that are created due to aggressive competitive practices by dominant firms in a market.

2. Monopolistic competition: Monopolistic competition is a market structure where a large number of firms compete in the market, but each firm has some degree of market power, allowing it to influence the price of goods or services in that market. Monopolistic competition markets can arise due to various factors, such as differentiated products or services that offer unique features or benefits that cannot be easily duplicated by competitors, economies of scale that allow firms to produce goods or services at lower costs than their competitors, or other factors that give firms some degree of market power.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Monopsonist markets have significant cultural and historical significance. In agricultural communities, for example, a single buyer, such as a grocery store or a processing plant, can have a significant impact on the prices that farmers receive for their crops. This can create significant cultural and historical tensions between farmers and buyers, as well as within farming communities themselves. Understanding the cultural and historical significance of monopsonist markets can help us better understand the complex economic and social relationships that exist within these markets, as well as the broader economic and social contexts in which they operate.

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