Retailers Accumulate Merchandise from Producers in Large Amounts and Sell

question 93

Multiple Choice

Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts. Retailers function as

• A) market intermediaries.
• B) monopolists.
• C) regulators of consumer demand.
• D) wholesale specialists.
• E) intermediate promoters.

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Definitions:

Secondarily Liable

Liability that is not primary but comes into effect when the party with primary liability has failed to fulfill an obligation.

Indorsers

Individuals who endorse or sign their name on the back of a document or cheque, thus transferring responsibility or ownership to another party.

Drawers

In banking and finance, individuals or entities that write and issue a check or draft instructing a bank to pay a specific amount from the drawer's account.

Accommodation Maker

A person who signs a loan agreement as a guarantor without receiving any benefits from the loan.