What is another word for monopsony?
Pronunciation: [mˈɒnə͡ʊpsənɪ] (IPA) 
The word "monopsony" refers to a market situation where there is only one buyer for a particular product or service. However, there are several synonyms that can be used to describe this concept, including "buyer monopoly," "single-buyer market," and "monopsonistic competition." Another synonym for monopsony is "employer monopsony," which refers to a situation where there is only one employer in a specific industry or region. Other related terms include "oligopsony," which describes a market with a small number of buyers, and "duopsony," which refers to a market with only two buyers. Regardless of the term used, monopsony can create significant market power for the buyer, which can have negative implications for sellers, wages, and competition.
