CIPS L3M1 Exam - Topic 1 Question 47 Discussion

Actual exam question for CIPS's L3M1 exam

Question #: 47
Topic #: 1

[All L3M1 Questions]

A market situation where there is only one buyer in the marketplace is called:

APerfect competition

BOligopoly

CMonopoly

DMonopsony

Show Suggested Answer

Suggested Answer: D

A market with only one buyer is called a 'monopsony'.

There may be other QUESTION NO :s in this test about the other terms shown, so I shall hold back on expla-nation(s) here.

by Shonda at Apr 07, 2026, 04:47 PM

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Tammara

8 hours ago

It's called a monopsony!

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Valentine

6 days ago

Nope, it's not a monopoly, that's for sure.

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Otis

11 days ago

I thought it was perfect competition at first!

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Vivan

16 days ago

Wait, isn't that just a monopoly?

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Tiffiny

2 months ago

Totally agree, it's definitely D.

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Celeste

2 months ago

That's a monopsony!

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Ryan

3 months ago

I feel like I’ve seen this in our notes, but I can’t recall the exact definition. Is it D) Monopsony?

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Shaniqua

3 months ago

I always confuse monopoly and monopsony. I hope I can remember that monopsony is the one with a single buyer.

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Lashon

3 months ago

I remember practicing a question like this! Monopsony is when there’s one buyer, right?

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Alberta

3 months ago

I think this is about market structures, but I’m not sure if it’s monopoly or monopsony.

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