What is it called again when there are a small number of sellers and buyers? Would it be financially smart for a company to produce something that only a handful of people would want and not need?
Small number of sellers: oligopoly
Small number of buyers: oligopsony
For your second question, it is up to the entrepreneur. Personally, I would only leap into that market if it was expected to grow. I would hate for my business to be reliant upon only a few buyers.
Small number of buyers: oligopsony
For your second question, it is up to the entrepreneur. Personally, I would only leap into that market if it was expected to grow. I would hate for my business to be reliant upon only a few buyers.