GENERAL KNOWLEDGE

Detailed explanation-1: -Manufacturers may use brokers and agents, who do not take title possession of the goods, in marketing their products. Brokers and agents typically perform only a few of the marketing flows, and their main function is to ease buying and selling-that is, to bring buyers and sellers together and negotiate between them.

Detailed explanation-2: -Agents and Brokers–Intermediaries who bring buyers and sellers together and assist in negotiating an exchange but do not take title to the goods. Wholesaler–An intermediary that sells products to other organizations such as retailers, manufacturers, and hospitals.

Detailed explanation-3: -Answer and Explanation: The correct answer is (a) broker. During negotiations between sellers and buyers, a broker’s function is to bring buyers and sellers together in a marketplace and ease each party’s buying or selling process. The broker does not take the title of the products but assists the two parties to agree.

Detailed explanation-4: -A market is an institution or mechanism that brings buyers and sellers together.

Detailed explanation-5: -A middleman is a broker, go-between, or intermediary to a process or transaction. An intermediary will earn a fee or commission in return for services rendered in matching buyers and sellers.