The government is considered a Single buyer and therefore exerts considerable influence in the procurement process...
The government is considered a Single buyer and therefore exerts considerable influence in the
procurement process as evidenced by the very detailed procurement regulations. This Single Buyer
concept describes the government as a _________________ (1 word)
Homework Answers
Monopsony is the condition where there exists only one buyer and this buyer has influence over the market. The government which acts as a single buyer is described as a monopsony and it controls how the market conditions change or fluctuate. Hence the answer is monopsony.
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The government is considered a Single buyer and therefore exerts
considerable influence in the
procurement process...
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