An Imprecise Term for Intermediaries That Perform a Variety of Functions

question 237

Multiple Choice

An imprecise term for intermediaries that perform a variety of functions, including selling, maintaining inventories, extending credit is

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

---

Definitions:

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent or salaries.

Variable Cost

Costs that change in proportion to the good or service that a business produces.

Profit

The financial gain obtained when the revenue from selling goods or services exceeds the total cost of producing them.

Fixed Costs

Costs that remain constant regardless of a business's operational levels, including rent, salaries, and loan repayments.