For future people to look it up.
Monopoly is a single seller.
Monopsony is a single buyer.
Given how popular this has gotten I guess I should point out that it's wrong.
There isn't a single seller so the proper ones are
Oligopoly - Market with few sellers
Oligopsony - Market with few buyers
"few" really meaning that they have pricing power as opposed to 3 companies.
alt Hacker News
Given how popular this has gotten I guess I should point out that it's wrong.
There isn't a single seller so the proper ones are
Oligopoly - Market with few sellers
Oligopsony - Market with few buyers
"few" really meaning that they have pricing power as opposed to 3 companies.