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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
Marketing intelligence, Competitive advantage, Opinion leader, Relative market share, Attitudinal scaling, List price, Marketing strategy, Channel marketing, Market entry, Direct response advertising (DRA), Key opinion leader (KOL), Brand management , Porter's 'Five Forces', Market development, Market skimming pricing,
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