Which statement below provides the most accurate description of the difference between an agent and a broker? O Agents represent final buyers while brokers represent marketing intermediaries. Agents represent one manufacturer in a large sales area, while brokers represent several different manufacturers in a smaller area. Agents develop a long-term relationship with the people they represent, while brokers are usually hired on a temporary basis. Agents take title to the goods they help distribute, while brokers never assume ownership of the products they distribute. Agents and brokers are equivalent and do not have any noticeable differences.
Which statement below provides the most accurate description of the difference between an agent and a broker? O Agents represent final buyers while brokers represent marketing intermediaries. Agents represent one manufacturer in a large sales area, while brokers represent several different manufacturers in a smaller area. Agents develop a long-term relationship with the people they represent, while brokers are usually hired on a temporary basis. Agents take title to the goods they help distribute, while brokers never assume ownership of the products they distribute. Agents and brokers are equivalent and do not have any noticeable differences.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question

Transcribed Image Text:Which statement below provides the most accurate description of the difference between an agent
and a broker?
O Agents represent final buyers while brokers represent marketing intermediaries.
Agents represent one manufacturer in a large sales area, while brokers represent several different
manufacturers in a smaller area.
Agents develop a long-term relationship with the people they represent, while brokers are usually hired on at
temporary basis.
Agents take title to the goods they help distribute, while brokers never assume ownership of the products
they distribute.
Agents and brokers are equivalent and do not have any noticeable differences.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps

Recommended textbooks for you

Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education

Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning

Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education

Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning

Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON

Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON

Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON