A Middleman Is a Person Who

question 55

Multiple Choice

A middleman is a person who

• A) specializes in arranging trades and selling, guaranteeing, and servicing items traded.
• B) acts as a middle person between the top management of a business firm and the hourly employees who actually produce the goods and services.
• C) adds to the seller's expense and the buyer's buying price without providing a service to either.
• D) levies a tax on private sector activity and uses the funds to support government activities.

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Definitions:

Fee Simple Absolute

The most complete ownership in property, unlimited in duration, inheritable, and without conditions or obligations.

Ownership Rights

Legal rights that confer the ability to use, control, and dispose of property or assets.

Fixed-Term Tenancy

A lease agreement for a property that is set for a specific period of time, at the end of which, the agreement either ends or must be renewed.

Express Contract

A clearly stated agreement, either written or spoken, where the terms are explicitly stated by all parties involved.