All of the Following Are True of Brokers Except

question 185

Multiple Choice

All of the following are true of brokers except

• A) they bring buyers and sellers together.
• B) they are especially useful when buyers and sellers do not come into the market very often.
• C) they usually have a permanent relationship with the buyer and seller.
• D) the broker's product is information about what buyers need and what supplies are available.
• E) they earn commissions based on completion of transactions between buyers and sellers.

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Definitions:

Product

An item or service created through a process and offered in the market to satisfy a need or desire.

Divisional Structure

An organizational layout where operations are grouped based on divisions, which could be product lines, geographical areas, or customer markets.

Functional Structure

An organizational structure where the company is divided into departments based on their functions, such as marketing, operations, and finance.

Geographic Location

The specific physical position of something on the Earth's surface, determined by its latitude, longitude, and other factors.