A market where there is a single buyer for a product is called a:

Name: A market where there is a single buyer for a product is called a:
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A monopsony is where there is only one buyer in the market, which gives them significant power over suppliers and allows them to dictate prices. Monopoly refers to a situation where there is only one seller in the market. Buyer's monopoly and bilateral monopoly are not commonly used terms in economics.

A Market Where There Is a Single Buyer for a Product