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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
Market niche, Marketing acronyms, Launch, Opinion leader, Competitor analysis, Relative advantage, Market follower, Convenience sampling, Situation analysis, Neuromarketing, Penetrated market, Focused Advertising Sampling Technique (FAST) Marketing, Market skimming pricing, Crisis management, Disease awareness marketing,
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