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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

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