Intermediaries, Known as Middlemen, Specialize in

question 329

Multiple Choice

Intermediaries, known as middlemen, specialize in

• A) reducing transaction costs.
• B) negotiating high prices for sellers.
• C) negotiating low prices for buyers.
• D) encouraging consumers to buy goods on credit, rather than with cash.

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Definitions:

Unconscionable Contract

An agreement that is so unfairly one-sided that it is considered oppressive or shocks the conscience of the court.

Article 2A

Pertains to the leasing of goods under the Uniform Commercial Code (UCC) in the United States.

Sotheby's Representative

An individual who acts on behalf of Sotheby's, the international auction house, in dealings with clients and the coordination of auctions and sales.

Valuation

The process of determining the current worth or price of an asset, company, or property.