monopsony

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The economic term here is 'monopsony', companies with one buyer, which is the Federal government.

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Definitions (2)

Toggle American Heritage definitions American Heritage Dictionary (1)

  1. noun A market situation in which the product or service of several sellers is sought by only one buyer.

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Examples (24)

  • Due to its existing infrastructure system inherited from Soviet times, Russia has the monopsony power
  • These firms often sell to formal ones that can be large players in the market, which can give them monopsony power. —  PSD Blog - The World Bank Group
  • Just as a monopoly (sole provider) can extract high prices from buyers, a monopsony (sole buyer) can extract low prices from providers. —  Spero News
  • We use a simple framework, adopted from general equilibrium search models, to estimate the extent to which monopsony power (or labor market frictions) can account for gender differences in pay, using data from a chain of regional grocery stores. —  CiteULike: Everyone's library
  • Futhermore, socialized health care allows the government to act as a monopsony, which means that as the government is the only employer in town, they can also set the wages. —  Original Signal - Transmitting Buzz
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Etymologies (1)

Toggle American Heritage etymologies American Heritage Dictionary (1)

  1. mon(o)- + Greek opsōniā, purchase of food; see duopsony.
 

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