monopsony
/məˈnɒpsəni/noun
उच्चारण मनॉप्सनी
एकक्रेताधिकार, मोनोप्सनी
Advanced word
noun
- 1
[C, U] technical
(in economics) a situation in which there is only one buyer for a particular product or service, so that the buyer can control the price
एकक्रेताधिकार, मोनोप्सनी
- Where one factory is the only employer in a town, it has a monopsony over local labour.
- The government enjoys a near monopsony in buying defence equipment.
◇Word family
monopsonist noun
?Which word?
Do not confuse monopoly (a market with only one seller) and monopsony (a market with only one buyer).
Monopoly (जिस बाज़ार में केवल एक विक्रेता हो) और monopsony (जिस बाज़ार में केवल एक क्रेता हो) में भ्रम न करें।
✓In the exam
General knowledge
Oligopoly means a market controlled by a few sellers, and duopoly a market controlled by two.
GK के लिए, oligopoly वह बाज़ार है जिस पर कुछ विक्रेताओं का नियंत्रण हो, और duopoly वह जिस पर दो का नियंत्रण हो।