Which of the Following Most Accurately States the Function of Middlemen

question 86

Multiple Choice

Which of the following most accurately states the function of middlemen?

• A) Middlemen add to the expense of buyers and sellers without providing any benefit.
• B) Our economy would work just as well without middlemen since they do not expand the availability of physical goods.
• C) Middlemen reduce the number of transactions since they increase the buyer's price and reduce the seller's net revenue.
• D) Middlemen create value by arranging trades and providing information to buyers and sellers.

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Definitions:

Collective bargaining

The process by which labor unions and employers negotiate contracts regarding wages, hours, benefits, and working conditions in an effort to reach a mutually acceptable agreement.

Workplace representation

The act of employees selecting individuals or bodies (such as unions or committees) to represent their interests and concerns to management.

France

A country in Western Europe known for its history, culture, and significant influence in art, science, and politics.

U.S.

The United States of America, a country in North America composed of 50 states, a federal district, five major self-governing territories, and various possessions.