Economic Structures

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August 25, 2024 3 min read Definitions

Oligopsony: Market Structure with Few Buyers

Economics Market Structures Oligopsony Market Power Buyers Economic Structures Tobacco Industry

An oligopsony is a market condition where a small number of buyers substantially control the market and drive decision-making power, often resulting in unique economic dynamics. A notable example is the tobacco industry, where a few major companies purchase from numerous growers.

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