CIPS L4M5 Exam - Topic 12 Question 98 Discussion

A monopoly occurs when a single supplier dominates a market, giving them high bargaining power over buyers. By contrast, monopsony is where a single buyer dominates, oligopoly involves a few large suppliers, and monopolistic competition refers to many suppliers with differentiated products. Monopoly power in negotiations means buyers have reduced leverage and may need to rely on regulatory frameworks or collaborative strategies to balance outcomes.