Economics: Oligopolies and Oligopsonies

Oligopolies and Oligopsonies This article is about the trend of oligopolies and how that creates oligopsonies. We already defined in oligopoly in class as an industry where there are few producers. An oligopsony is the term used when there are only a few buyers for that oligopoly. One example is "... the limited number of national book chains." Since there are three major book chains, namely Barnes and Noble, Borders, and Amazon; it seems that if …

…Still while there is something to be said for small family run businesses the fact remains that the bigger the company is the more efficiently they can produce the products we want to buy. So if all we are going to buy is what is the cheapest and all we are going to drink is Pepsi and Coca-Cola then that is all that needs to be produced. I guess this is all our own fault.