Question

Which of the following is TRUE of brokers? a. Brokers bring buyers and sellers together and assist in negotiation. b. Brokers represent buyers or sellers on a permanent basis. c. Brokers assume title and risk from the time an order is accepted to its delivery. d. Most brokers are hired by sellers and work for a salary. e. Selling brokers have contractual authority to sell a manufacturer’s entire output.

Answer 1

a. Brokers bring buyers and sellers together and assist in negotiation.

Step-by-step explanation:

Brokers are a kind of agents as, they help the buyers find the sellers, and the sellers to find the buyers.

They help in price negotiations and settling the deals. They are hired for individual deals, and not for a specified period.

They do not get any payments in the form of salary, but they get payment in the form of commission, based on the price of settlement of the deal.