Which of the Following Statements Describes the Key Difference Between

question 118

Multiple Choice

Which of the following statements describes the key difference between merchant wholesalers and agents and brokers?

• A)Merchant wholesalers don't perform all channel functions and agents and brokers do.
• B)Agents and brokers only deal with consumer channels.
• C)Agents and brokers make their profits based on the sales of merchandise they own, while merchant wholesalers make profits based on fees paid for their services.
• D)Merchant wholesalers take title to merchandise and agents and brokers do not.

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Definitions:

Highly Inelastic

Describes a situation where the quantity demanded or supplied changes very little in response to changes in price.

Antiques

Objects of considerable age valued for their aesthetic or historical significance.

Percentage Change

A mathematical calculation that indicates the degree of change over time, expressed as a percentage representing increase or decrease.

Quantity Demanded

The total amount of a good or service that consumers are willing to purchase at a given price.