Question

A market is a group of individuals or organizations, or both, that need products in a given category and that have the ability, willingness, and authority to purchase them. Which of the following is the name given to the market for intermediaries who buy finished products and sell them for a profit?

Answer 1

Answer: A reseller market

Explanation: A reseller is an organisation or individual within a market who purchases already completed goods from producers, with the intention of reselling them to consumers. These types of markets will charge a higher price on these goods, thus selling them for a profit on behalf of the party they originally purchased these goods from. They thus act a go - between for the original producer of the good, and the consumer. In return these intermediaries earn a form of commission on these goods.