monopsony
noun
ECONOMICSuk/məˈnɒpsəni/us[U]
asituationin amarketin which there is only onebuyerforgoodsorservicesofferedby severalsellers:
Since most of thebiggestmarketplacesarerunbybuyers, theytendtoriskmonopsony.
[C]
abuyerwho is the only one in amarketin which thegoodsorservicesareofferedby severalsellers:
People haveaccusedthebigwinebuyerof being a monopsony.
monopsonist
noun[C]
For manyyearsthesteelindustryhasactedas a monopsonist.