A Monopsony Is

question 60

Multiple Choice

A monopsony is

• A) a market in which there is only a single buyer.
• B) a monopoly sanctioned by law.
• C) a market in which there is only a single seller.
• D) an illegal monopoly.

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Definitions:

Debt

is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor.

Assets

Resources owned by a person or business, which are expected to produce positive economic value.

Transaction Demand

The requirement to possess currency in order to carry out daily financial transactions.

Medium of Exchange

An intermediary instrument or system used to facilitate the sale, purchase, or trade of goods between parties.