A Market in Which There Is Only One Buyer Is

question 52

Multiple Choice

A market in which there is only one buyer is called a(n)

• A)monopsony.
• B)monopoly.
• C)unipoly.
• D)oligopsony.

---

Definitions:

Provincial Labour Relations Board

A governmental body responsible for regulating labor and employment relations within a specific province, often focusing on issues related to unions and collective bargaining.

Plant Nurse

A healthcare professional who works within an industrial or corporate setting, providing medical care and health surveillance to employees.

Lawful Strike

A work stoppage by employees that is legal under local or national labor law.

Collective Agreement

A written contract negotiated between an employer and a union representing the employees, outlining terms and conditions of employment.