Answer: B) demand determined.
Explanation:
If the supply of a good is fixed or the product is of a unique kind, the price of the good will be determined by the amount of demand for it.
Normally supply can change based on the quantity demanded which will impact prices but if the supply is definite, this means that the supply curve is inelastic and the only curve that can affect price therefore is the demand curve.
If more people demand the good, it will increase in price and if less people demand it, it will fall in price.
Answer
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Explanation
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Answer:
C. retailer
Explanation:
A retailer is a business entity that buys goods from manufacturers or wholesalers and sells them to the end-users. A retailer is, therefore, a middleman who helps customers acquire products from manufacturers.
There are several types of retailers classified according to their size and nature of business. Departmental stores are the largest retailers. They stock a wide range of products from electronics, jewelry, food items, furniture, clothing, to books, all under one roof. Other retailers include supermarkets, drugstores, restaurants, convenience stores, and discount stores.
Retailers make profits by buying goods at a wholesale or factory price and selling them at a higher retail price.
<u>Business Analysis</u> is a comprehensive process to analyze data and produce outputs that can inform decision-making.
<h3>What is Business Analysis?</h3>
Business analysis is the collection of duties, skills, and methods needed to pinpoint business requirements and come up with solutions to enterprise-level problems. Although the general definition is identical, many sectors may have different practices and methods. In the information technology sector, systems development is a common component of solutions, but they can also incorporate process optimization or organizational change.
Business analysis can also be carried out to comprehend how a firm is doing right now or to serve as a foundation for identifying business needs. Business analysis is typically carried out to define and validate solutions that satisfy business demands, objectives, or goals.
Thus, Business Analysis is a comprehensive process to analyze data.
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The broker of record is ultimately responsible for determining the role a licensee is expected to play in any transaction.
When an insurance company pays an agent a monthly commission to manage and represent a policyholder's insurance policy, that agent is known as a broker of record. Two parts of this position include liaison work for the policyholder and communication.
A broker of record in the context of insurance is an agent chosen by the policyholder to represent and administer the policy. All correspondence to the policyholder may be copied by the broker of record, who may also accept quotations, policies, and notices on the policyholder's behalf. One of the most potent and frequently misused legal documents in the insurance sector is the Broker of Record (BOR) letter. Unfortunately, a lot of unethical brokers get uninsured people to sign this.
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