An Agent That Receives Goods on Consignment from Local Sellers

question 55

Multiple Choice

An agent that receives goods on consignment from local sellers and negotiates sales in large, central markets is called a

• A) commission merchant.
• B) sales branch agent.
• C) selling agent.
• D) manufacturers' agent.
• E) broker-agent.

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Definitions:

Invisible Hand

A concept introduced by Adam Smith to describe the self-regulating nature of the market through individuals' pursuit of their own interests.

Consumption

The act of using goods and services to satisfy needs and desires.

Entrepreneurs

Individuals who take on the risk of starting and managing a business, often bringing innovation and new products or services to the market.

Economical

Pertains to the efficient use or management of resources to avoid waste and reduce expenses.