A Channel That Includes Intermediaries Between the Producer and Consumer

question 209

Multiple Choice

A channel that includes intermediaries between the producer and consumer and perform numerous channel functions are referred to as a(n)

• A)indirect channel.
• B)skewed channel.
• C)multi-level channel.
• D)full-service channel.

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Definitions:

Trade

The action of buying, selling, or exchanging goods and services between people, firms, or countries.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay.

International Trade

The exchange of goods, services, and capital among various countries and territories, crossing their international borders.

Absolute Advantage

The ability of a country, individual, or group to produce a good or service more efficiently than competitors, using fewer resources.