An oligopsony is a type of market in which there are fewer buyers but many suppliers. This makes the Oligopsony a buyer's market. In an oligopsony, the few buyers are very large and powerful. In an oligopoly, the suppliers control the market and eventually control the prices fluctuating in this market.Oligopoly arises when a small number of large firms have all the general sales in an industry. Examples of oligopoly include the auto industry, television industry, and commercial air travel.