facilitate the exchange of ownership between sellers and buyers
Answers
A product which is available to us in shops , which serves us in various ways are first made by the manufacturers by processing raw materials to finished products. When the finished product is made then at that time the owner of the product is the manufacturer until any whole seller buys it. This transfer of ownership of product is facilitated by paying the value of the product to owner by the buyer.
An agent in a business process is a person who facilitates the exchange of ownership between the buyer and the seller.
Explanation:
In order to boom the business and to meet the end to end consumers of the products, the buyers who are the primary purchasers of the product will become the owners and again the turn comes around to the sellers resell the products.
In this way, a rotation occurs among all the business owners especially the buyers and the sellers in a company.
TO KNOW MORE:
What is meant by agency? Enlist the duties and rights of an Agent.
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Explain principal-agent relationship in a business context, and highlight the key factors in separation of ownership and control.
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