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

In a monopsony labor market, the primary characteristic that sets it apart from a competitive labor market is that there is only one major employer for workers in a particular area or industry. This single employer has significant power to set wages and conditions because workers have limited options for employment. In contrast, in a competitive labor market, many employers compete for workers, which generally leads to higher wages and better working conditions. For example, if a city has only one large factory hiring workers, that factory can pay lower wages because people have fewer job choices. This situation can result in workers earning less than they would in a market with multiple employers competing for their skills.