Match the Term with Its Definition

question 115

Essay

Match the term with its definition.
a.Agents/brokers
b.Common carriers
c.Contract carriers
d.Distribution
e.Dual distribution
f.Merchant middlemen
g.Patent
h.Physical distribution (logistics)
i.Plant patent
j.Private carriers
k.Supply chain management
l.Third-party logistics firm
-A company that provides transportation and distribution services to firms that prefer to focus their efforts on their primary operations

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Definitions:

Market Imbalances

Situations where the quantity supplied of a good does not equal the quantity demanded, leading to surpluses or shortages.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price.

Market Equilibrium

The state in economics where the supply of goods matches demand, leading to stable prices.

Price Floor

A minimum price set by the government or a regulatory body, below which a good or service cannot legally be sold.