Word of the Day

Word of the Day: Oligopsony
 
Definition: (noun)
 
1) a market situation in which each of a few buyers exerts a disproportionate influence on the market
 
2) a state of the market in which only a small number of buyers exists for a product.
 
Etymology:
 
Circa 1940; Oligopsony derives from the combining form olig-, meaning “few,” and the Greek noun opsōnia—”the purchase of victuals”—which is ultimately from the combination of opson, “food,” and ōneisthai, “to buy.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s