Meaning of oligopsony

ol•i•gop•so•ny

Pronunciation: (ol"i-gop'su-nē), [key]
— n.
  1. the market condition that exists when there are few buyers, as a result of which they can greatly influence price and other market factors. Cf.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.