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Glossary of Industrial Organisation Economics and Competition Law, compiled by R. Buyer concentration may result in countervailing power that offsets the market power that may otherwise arise from high levels of market or seller concentration. At the extreme, a single purchaser of all the production of a good or service would give rise to a situation of monopsony. Buyer concentration which measures the extent to which a large percentage of a given product is purchased by relatively few buyers.
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You can complete the list of synonyms of economic power given by the English Thesaurus dictionary with other English dictionaries: Wikipedia, Lexilogos, Oxford, Cambridge, Chambers Harrap, Wordreference, Collins Lexibase dictionaries, Merriam Webster. Market concentration in this context is used as one possible indicator of market power. Search economic power and thousands of other words in English definition and synonym dictionary from Reverso. Find similar words and phrases with our powerful synonym search engine. The rationale underlying the measurement of industry or market concentration is the industrial organization economic theory which suggests that, other things being equal, high levels of market concentration are more conducive to firms engaging in monopolistic practices which leads to misallocation of resources and poor economic performance. Synonym search engine powered by WordHippo. In this page you can discover 9 synonyms, antonyms, idiomatic expressions, and related words for world-power, like: dominion, imperium, lordship, sovereignty, superpower, powerful nation, major power, great-power and power. Industry or Market concentration (also often referred to as seller concentration) which measures the relative position of large enterprises in the provision of specific goods or services such as automobiles or mortgage loans. A state that has the ability to exert its influence on a global scale. This measure has interested economists, sociologists and political scientists mainly in the context of theories relating to actual (and potential) economic- political power which big business may be able to exercise because of their economic importance in a country/industrial sector/geographic region. Aggregate concentration which measures the relative position of large enterprises in the economy. There are at least four distinct concepts embodied within the term concentration: Concentration refers to the extent to which a small number of firms or enterprises account for a large proportion of economic activity such as total sales, assets or employment.