Choose the One Most Appropriate Answer for Each

question 78

Multiple Choice

Choose the one most appropriate answer for each.
-a separate account for holding client's and customer's money

• A)agent
• B)agency by estoppel
• C)boycotting
• D)buyer's broker
• E)commingling
• F)dual agency
• G)fiduciary relationship
• H)implied authority
• I)middleman
• J)ostensible authority
• K)price fixing
• L)principal
• M)property report
• N)puffing
• O)sales associate
• P)special agency
• Q)subagent
• R)third parties
• S)trust account
• T)universal agency

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Definitions:

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output decreasing with increasing scale.

Distribution Operations

Involves the management of the supply chain processes that ensure the efficient movement and storage of goods from the manufacturer to the end customer.

Materials Handling

The movement, protection, storage, and control of materials and products throughout manufacturing, warehousing, distribution, and disposal.

Order Fulfillment

The process of receiving, processing, and delivering orders to end customers.