Examlex
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Monopsonist
A market condition where there is only one buyer for a particular product or service, giving the buyer significant control over prices.
Labor Market
The supply and demand for workers, in which employers seek to hire labor and workers find employment. The labor market dynamics influence wages and employment levels.
Monopsonist
A market condition where there is only one buyer for many suppliers, giving the buyer substantial control over prices and terms.
Labor Unions
Entities that act on behalf of employees in discussions with employers about salaries, work environment, and perks.
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