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Mono(m)poly - when one baker is providing all the noms in a particular market
Monopsony - when many bakers are supplying the noms to only one consumer
- by Joseph Cole, Chapman University graduate student
Help us expand our vocabulary! If you have a good defi-nom-tion of an econ word, please email words@economnomnomics.com or reply to this post below. Include your word and definition and also your name and/or institution or webiste that you would like credited.
A made-up example submission:
Trust – if you believe someone who promises you noms will deliver on their promise
by John Hsu, University of Maryland