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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
Corporate strategy, Oligopsony, Brand strategy, Coverage, Market skimming pricing, Focus groups, Repositioning, Mathematical analysis of perception and preference (MAPP), International marketing, Mores, Market entry, Convenience sampling, Greying, leisured, affluent, middle-aged (GLAM), Penetrated market, Market follower,
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