examples of monopsony power Flashcards
1
Q
examples of monopsony power
A
The relationship between farmers and grocery stores can also be described as a monopsony. There are multiple buyers (grocery stores) that purchase from farmers, but there are not many, thus they have great power to control the prices of produce being purchased from the farms. e.g Aldi and ashfields food. also has the highest market share out of the cheaper supermarkets.
or the nhs with its monopsony power as it employs 1.3 million people
