In economics, a monopsony (from Ancient Greek μόνος (monos) "single" + ὀψωνία (opsōnia) "purchase") is a market form with only one buyer, called "monopsonist," facing many sellers. It is an instance of imperfect competition, symmetrical to the case of a monopoly, in which there's only one seller facing many buyers. The term "monopsony" was first introduced by Joan Robinson(External Link) (1933). The term "monopso… (More on Monopsony)