Considering the available options, an example of an intermediary is "New car dealership."
This is based on the idea that an intermediary is an organization between the producers and the final consumers in the business chain transaction.
Thus, a new car dealership is considered an intermediary because he is neither a producer nor the final consumer of the automobile product.
Generally, in any industry, there are different types of intermediaries, they include:
agents, wholesalers, distributors, and retailers.
Hence, in this case, it is concluded that the correct answer is option C. "New Car Dealership."
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Answer:
Commission on Accreditation of Rehabilitation Facilities
Explanation:
This commission founded in 1966 is committed to helping organisations measure the quality of outcomes of behavioral health.
They are called a commission because they were entrusted with this responsibility of accrediting rehabilitation facilities.
A rehabilitation facility is a place where someone is helped to regain health or their normal behaviour (life) by means of training and therapy. Such individuals may be suffering from an addiction or illness.
The statement that is true regarding competition is : D. Competition among sellers can help drive prices down.
in a competition, those sellers will fight to grab consumer's attention. One of the most effective way to do that is by lowering the price of their product
hope this helps
Answer:
b. opportunity cost
Explanation:
<u>The opportunity cost is a term for a process when one thing is chosen and the other alternatives are lost as a cost. </u><u>This is one of the key concepts in economics</u>, as it explains the gain, costs, benefits, and choices. It doesn’t only have to refer to the money cost, but to any loss, that is made during the process of choosing between the alternatives.
The profit and benefits of other choices are lost by making a decision to chose one thing, and benefiting it from it alone.
Answer:
Nominal gross domestic product (GDP) measures the market value of all the new and legal goods and services produced in a country within a year. While real GDP adjusts nominal GDP to inflation. Since inflation is generally positive, real GDP decreases as inflation increases. The higher the inflation rate, the larger the difference between nominal and real GDP. Depending on which year is used as base year (year 0), the difference that existed in 2010 can be either significant or not.
The difference = ($14,657 / $13,245) - 1 = 10.66%, which means that nominal GDP was 10.66% higher than real GDP. If the base year is 2000 or even 2005/6, the difference is very small since the accumulated inflation would only be 10.66% for all these years. But if the base year was 2008 or even 2009, then the inflation rate is high.
