Algot is a user on mastodon.art. You can follow them or interact with them if you have an account anywhere in the fediverse. If you don't, you can sign up here.
Algot @Algot
Follow

oligopsony

/ɒlɪˈɡɒps(ə)ni/
noun
A state of the market in which only a small number of buyers exists for a product.

Origin
1940s: from oligo- ‘small number’ + Greek opsōnein ‘buy provisions’, on the pattern of monopsony.

==========

Companies like Ferrari, Bentley and Apple design products for an oligopsony, with the expectation that "everyone" will actually want one. Strangely, they have succeeded.

· Web · 0 · 3