f a i t h * i n * f i c t i o n: I Learned a New Word Today

f a i t h * i n * f i c t i o n

Tuesday, August 16, 2005

I Learned a New Word Today

Monopsony - an economic term for when demand for an item comes from primarily/exclusively one source. It's analogous to a monopoly, but on the demand side, not the supply side. Basically, the buyer essentially dictates terms of purchase...and come close to getting the product for cost of production.

This is what Wal-Mart pushes closer and closer to in many of their purchasing deals.