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OLIGOPSONY: A market structure dominated by a small number of large buyers controlling the buying-side of a market. Oligopsony is the somewhat obscure and seldom discussed buying counterpart to an oligopoly seller that controls the selling side of a market. Whereas oligopoly is most relevant to product markets, oligopsony is most relevant to factor markets.
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MARKET CONTROL The ability of buyers or sellers to exert influence over the price or quantity of a good, service, or commodity exchanged in a market. Market control largely depends on the number of competitors on each side of the market. If a market has relatively few buyers, but many sellers, then limited competition on the demand-side of the market means buyers tend to have relatively more market control than sellers. The converse occurs if a market has many buyers, but relatively few sellers. This is also termed market power.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for broken fingernail clippers.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"There's only one corner of the universe you can be certain of improving and that's your own self. " -- Aldous Huxley, writer
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NDP
Net Domestic Product
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