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Brokers
Brokers neither physically handle products being distributed nor work on a continuing __1__ with their principals. __2__, a broker is an independent wholesaling middleman that brings buyers and sellers together and provides market information to either party. Most brokers work for sellers, __3__ a small percentage represent buyers.
Brokers have no authority to set prices. They simply negotiate a sale and leave it up to the seller to accept or __4__ the buyer's offer. They also furnish considerable market information __5__ prices, products, and general market conditions.
Because of the limited services provided , brokers receive relatively small commissions-5 percent or less. __6__, brokers need to operate on a low -cost basis.
Food brokers __7__ buyers and sellers of food and __8__ general-merchandise items to one another and bring them together to complete a sale. They are well __9__ about market conditions, terms of sale, sources of credit, price setting, potential __10__, and the art of negotiating. They do not actually provide credit but sometimes store and deliver goods. Brokers also do not __11__ goods and usually are not allowed to complete a transaction __12__formal approval. Like other brokers, food brokers generally represent the seller, who pays their commission.
Food brokers, __13__manufactures' agents, operate in specific geographic locations and work for a limited __14__ of food producers within these areas. Their sales force calls on chain-store buyers, store managers, and institutional purchasing agents. Brokers work __15__with advertising agencies. The average commission for food brokers is 5 per cent of sales.
EXERCISE:
1. A) basic B) basical C) basically D) basis
2. A) Instead of B) Instead C) So D) Therefore
3. A) for example B) as a result C) since D) although
4. A) raise B) take C) reject D) lower
5. A) regards B) in relation C) with regard D) regarding
6. A) However B) Therefore C) For instance D) Because
7. A) introduce B) to introduce C) take D) bring
8. A) relating B) relate C) to relate to D) connected with
9. A) informed of B) informing C) known D) informed
10. A) sellers B) people C) buyers D) agents
11. A) take title to B) take title of C) have title of D) give the title to
12. A) with B) have C) in the possession of D) without
13. A) alike B) like C) resemble D) look like
14. A) number B) sum C) amount D) quantities
15. A) close B) loose C) closely D)closer
Key: DBDCD BABDC ADBAC
