__________ Is an Intermediary Who Sells to Other Intermediaries

question 106

Multiple Choice

__________ is an intermediary who sells to other intermediaries.

• A)agent
• B)wholesaler
• C)retailer
• D)manufacturer
• E)broker

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Definitions:

Surplus I

A situation where the quantity of a good or service supplied exceeds the quantity demanded, often leading to a price decrease.

Consumer Surplus

The disparity between consumers' theoretical expenditure on a good or service and their practical expenditure.

Total Surplus

The sum of consumer surplus and producer surplus, indicating the total benefits received by both producers and consumers in a market.

Equilibrium Price

The trading value at which the supply of goods meets the consumers' demand for these goods.