An Imprecise Terms for Intermediaries Who Perform a Variety of Functions,including

question 224

Multiple Choice

An imprecise terms for intermediaries who perform a variety of functions,including selling,maintaining inventories,extending credit,and so on,are referred to as __________.

• A)agents
• B)brokers
• C)retailers
• D)wholesalers
• E)distributors

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Definitions:

Cotton Gin

The cotton gin is a mechanical device invented by Eli Whitney in 1793, designed to efficiently remove the seeds from cotton fibers, significantly impacting the cotton industry and slavery in the United States.

Market Economy

An economic system in which production and prices are determined by unrestricted competition between privately owned businesses.

Erie Canal

A historically significant man-made waterway in New York State, opened in 1825, which connected the Great Lakes with the Atlantic Ocean, facilitating trade and migration.

Steel Plow

An agricultural implement invented by John Deere, making it easier to till the tough prairie soil of the United States.