JAMB - Economics (2020 - No. 8)
What form of market is found in an imperfect competition where there are few buyers and many sellers
monopoly
oligopoly
duopoly
oligopsony
Wyjaśnienie
Oligopsony is a market structure consisting of a large number of sellers but a few buyers. Sellers have little negotiation power and compete to sell their goods and services to a handful of buyers.