Which term is an intermediary that brings together buyers and sellers?

Study for the Edexcel A-Level Business Test. Dive into flashcards and multiple-choice questions, each with helpful explanations. Elevate your exam readiness today!

Multiple Choice

Which term is an intermediary that brings together buyers and sellers?

An agent or broker is the person or firm that acts as a middleman, connecting buyers with sellers. They don’t usually own the goods but facilitate the transaction by marketing, negotiating terms, and handling paperwork, often earning a commission. This reduces search and information costs for both sides and makes it easier to bring together supply and demand, which is exactly what an intermediary does. Direct selling bypasses middlemen, while skimming is a pricing strategy, and “intermediaries” is the general idea of middlemen rather than a specific role.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy