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Healthcare Glossary
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Monopsony
A market situation when there is a single buyer (eg government purchase of drugs). In economics, a monopsony is a market arrangement in which only one purchaser confronts multiple sellers, as opposed to a monopoly, in which only one seller faces many purchasers. As the sole purchaser of a good or service, the "monopsonist" may command terms to its suppliers.
See also:
Monopoly
Related terms
Emotional selling preposition (ESP), Focused Advertising Sampling Technique (FAST) Marketing, Segmentation strategies, Syndicate groups, Brand image, Price maker, Territory management, Repositioning, Segmentation, Life cycle (product), Environmental scanning, Relative advantage, Mission statement, Key opinion leader (KOL), Penetrated market,
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