1. of, relating to, or characteristic of an oligopsony; describing a market in which a small number of buyers have significant control over prices and terms
Usage: economics; formal

Examples

• The agricultural sector exhibits oligopsonistic characteristics because only a few large corporations purchase crops from farmers.
• In an oligopsonistic market, buyers can exert downward pressure on prices.
• The oligopsonistic structure of the meat-packing industry limits the bargaining power of suppliers.
• Economists study oligopsonistic conditions to understand wage suppression in certain labor markets.
• The company's oligopsonistic position allowed it to negotiate favorable terms with its suppliers.