In a monopsony labor market, what is the primary characteristic that distinguishes it from a competitive labor market?

In a monopsony labor market, there is only one employer for many workers, which is different from a competitive labor market where multiple employers compete for workers. This single employer has significant power over wages and employment conditions because workers have fewer alternatives for jobs. For example, if a town has only one factory, that factory can set lower wages since workers cannot easily find other jobs nearby. In contrast, in a competitive market, many companies would offer similar jobs, forcing employers to raise wages to attract workers. Therefore, the key distinction is the employer's control over wages due to the lack of competition for labor.