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Monopsony  (from Wikipedia)

In economics, a monopsony (from Ancient Greek μόνος (monos) "single" + ?ψωνία (opsōnia) "purchase") is a market form in which only one buyer faces many sellers. It is an example of imperfect competition, similar to a monopoly, in which only one seller faces many buyers. As the only purchaser of a good or service, the "monopsonist" may dictate terms to its suppliers in the same manner that a monopolist controls the market for its buyers.

The term was first introduced by Joan Robinson in her influential[1] book, The Economics of Imperfect Competition. Robinson credits classics scholar Bertrand Hallward of Peterhouse College, Cambridge with coining the term.

A single-payer health care system, in which the government is the only "buyer" of healthcare services, is an example of a monopsony. It has also been argued[2] that Wal-Mart, in the United States, functions as a monopsony in certain market segments, as its buying power for a given item may dwarf the remaining market.

In markets with more than one buyer. In all such cases the resulting market form is called an oligopsony.

In the US, several, including Harper's and the PBS program Frontline, have made the case that Wal-Mart is a monopsonist, dictating terms to suppliers, whilst at the same time a monopolist dictating terms to consumers - at least in certain market segments [3][4].