Originally coined by economist Joan Robinson to refer to markets with multiple sellers of a product but only one buyer,...

GMAT Expression of Ideas : (Expression) Questions

Source: Practice Test

Expression of Ideas

Transitions

MEDIUM

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Notes

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Originally coined by economist Joan Robinson to refer to markets with multiple sellers of a product but only one buyer, the term monopsony can also refer to markets where demand for labor is limited. In a product monopsony, the single buyer can force sellers to lower their prices. ______ in a labor monopsony, employers can force workers to accept lower wages.

Which choice completes the text with the most logical transition?

Earlier,

Instead,

Similarly,

In particular,

Solution

Step 1: Decode and Map the Passage

Passage Analysis Table

Text from Passage	Analysis
"Originally coined by economist Joan Robinson to refer to markets with multiple sellers of a product but only one buyer, the term 'monopsony' can also refer to markets where demand for labor is limited."	What it says: Monopsony = multiple sellers + 1 buyer (products) OR limited labor demand. What it does: Introduces and defines the key term with two applications. What it is: Definition with scope
"In a product monopsony, the single buyer can force sellers to lower their prices."	What it says: Product monopsony leads to buyer forcing lower prices. What it does: Provides specific example showing how monopsony works in practice. What it is: Concrete example
"in a labor monopsony, employers can force workers to accept lower wages."	What it says: Labor monopsony leads to employers forcing lower wages. What it does: Shows how the same principle applies to labor markets. What it is: Parallel example

Passage Architecture & Core Elements

Main Point: Monopsony power works the same way across different markets—whether buyers are purchasing products or employers are hiring workers.

Argument Flow: The passage defines monopsony, then demonstrates the concept with a product market example, and extends that same logic to labor markets to show the parallel effect.

Step 2: Interpret the Question Precisely

This is a fill-in-the-blank question asking us to choose the best logical connector. The answer must create the right relationship between what comes before and after the blank.

Step 3: Prethink the Answer

Looking at our passage analysis, we see that both sentences describe the exact same concept—monopsony power—just in different contexts
The product example shows buyers forcing lower prices, and the labor example shows employers forcing lower wages
These are parallel situations demonstrating the same economic principle
The transition needs to signal that we're seeing the same pattern repeat in a different context
We need a connector that says "this works the same way" or "here's the parallel situation"
So the right answer should indicate similarity or parallel application of the same concept

Answer Choices Explained

Earlier,

Earlier,
✗ Incorrect

This suggests we're referring back to something from a previous time
The labor monopsony example isn't describing something that happened earlier—it's showing a parallel current application

Instead,

Instead,
✗ Incorrect

This indicates replacement or contrast
But we're not contrasting product and labor monopsonies; we're showing they work the same way

Similarly,

Similarly,
✓ Correct

This perfectly indicates that labor monopsony works in the same way as product monopsony
Shows the parallel relationship between buyers forcing lower prices and employers forcing lower wages

In particular,

In particular,
✗ Incorrect

This suggests we're giving a specific example of something general we just mentioned
But labor monopsony isn't a specific type of product monopsony—it's a parallel application in a different market

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