Which of the Following Is True of Brokers

question 142

Multiple Choice

Which of the following is true of brokers?

• A) Brokers represent buyers or sellers on a semipermanent basis.
• B) Most brokers are small businesses with a few skilled salespeople.
• C) Brokers bring buyers and sellers together and assist in negotiation.
• D) Selling brokers have contractual authority to sell a manufacturer's entire output.
• E) Purchasing brokers make purchases for buyers and often receive, inspect, warehouse, and ship merchandise.

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Definitions:

External Costs

Costs not borne by the producer or consumer of a good or service, but rather by third parties or the environment, often not included in the price of the good or service.

Hidden Environmental Cost

The indirect environmental impact and expenses not immediately apparent or accounted for in the pricing of goods and services.

Oil-Spill Clean Up

Oil-spill clean up involves the methods and technologies used to remove or mitigate the effects of oil spills in the environment, focusing on preserving marine and coastal ecosystems.

Product Disposal

The process of discarding, recycling, or destroying products that are no longer useful or necessary.