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A market situation where there is only one buyer in the marketplace is called:
Suggested Answer: D
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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.
20 comments · newest first
VE
Vernice
2 months ago
Same here! Monopsony is the only option that matches the question.
AL
Alaine
2 months ago
I feel confident about this one. D is definitely the answer.
WI
Willis
2 months ago
Monopoly is just one seller. Monopsony is the buyer!
EL
Elza
3 months ago
I was torn between C) Monopoly and D) Monopsony. But D makes more sense.
YV
Yvette
3 months ago
Yeah, I agree! It fits the definition perfectly.
SI
Simona
3 months ago
I think it's D) Monopsony. One buyer, right?
EL
Elin
3 months ago
Nope, monopsony is right, good catch!
KA
Kara
3 months ago
I thought it was a monopoly too, kinda surprised!
NI
Nickolas
4 months ago
Wait, isn't that just a monopoly?
HI
Hildegarde
4 months ago
Definitely D!
TA
Tammara
4 months ago
It's called a monopsony!
VA
Valentine
4 months ago
Nope, it's not a monopoly, that's for sure.
OT
Otis
4 months ago
I thought it was perfect competition at first!
VI
Vivan
4 months ago
Wait, isn't that just a monopoly?
TI
Tiffiny
6 months ago
Totally agree, it's definitely D.
CE
Celeste
6 months ago
That's a monopsony!
RY
Ryan
7 months ago
I feel like I’ve seen this in our notes, but I can’t recall the exact definition. Is it D) Monopsony?
SH
Shaniqua
7 months ago
I always confuse monopoly and monopsony. I hope I can remember that monopsony is the one with a single buyer.
LA
Lashon
7 months ago
I remember practicing a question like this! Monopsony is when there’s one buyer, right?
AL
Alberta
7 months ago
I think this is about market structures, but I’m not sure if it’s monopoly or monopsony.