What is a market in which there is only one buyer called

Name: What is a market in which there is only one buyer called
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A market in which there is only one buyer is called a monopsony. Monopsony is the opposite of a monopoly, where there is only one seller. In a monopsony, the single buyer has significant market power, which allows them to dictate terms to the sellers. This can result in lower prices for goods and services, as well as reduced competition for suppliers.

What Is a Market in Which There Is Only One