How are a consumer's preferences over goods represented?
What does an agent's representative do?
Definition. An agent's representative is employed by or acts for a licensed estate agent, and with written authority, can perform any of the legal functions of that estate agent. For example, an agent's representative can act as a salesperson or property manager, but cannot operate an estate agency business.
What is the difference between an agent and a representative?
agent = a person or business authorised to act on another's behalf: representative =a person or thing that represents another or others with or without legal authority and/or liability.
What does it mean to be represented by an agent?
An agent, in legal terminology, is a person who has been legally empowered to act on behalf of another person or an entity. An agent may be employed to represent a client in negotiations and other dealings with third parties. The person represented by the agent in these scenarios is called the principal.
What is an agent's representative certificate?
Formerly known as the Agents Representative Certificate This is the new educational requirement, prescribed by the Business Licensing Authority, to work as an agent's representative. As an agent's representative, you can work in sales, leasing and property management as well as admin and reception.
Is a sales representative the same as a real estate agent?
So the terms "real estate agent" and "real estate salesperson" are usually interchangeable. They basically mean the same thing. Once you are licensed as a salesperson you will you be able to work as a real estate agent, represent clients in real estate transactions, and earn a commission.Mar 2, 2021
What is the difference between a sales representative and a sales agent?
The terms sales agent and sales representative seem similar on the surface but are vastly different when functioning in the business world. A sales representative works directly for a single company while an agent may represent multiple brands and usually works for his own business.
Who is considered an agent?
An agent, in legal terminology, is a person who has been legally empowered to act on behalf of another person or an entity. An agent may be employed to represent a client in negotiations and other dealings with third parties. The agent may be given decision-making authority.
Is a representative an agent?
An agent works on behalf of a client to secure employment for a business client whereas a representative usually works with an established company to sell goods and services of that company. A representative may work in almost all areas of retail and levels of pay from a store clerk to a car salesman.
What is the difference between a representative and an agent?
As nouns the difference between representative and agent is that representative is one who may speak for another in a particular capacity, especially in negotiation while agent is one who exerts power, or has the power to act; an actor.
Economists use the term representative agent to refer to the typical decision-maker of a certain type (for example, the typical consumer, or the typical firm). More technically, an economic model is said to have a representative agent if all agents of the same type are identical.
What is the role consumer?
Key Terms. Consumer: The consumer is the one who pays to consume the goods and services produced. As such, consumers play a vital role in the economic system of a nation. In the absence of their effective demand, the producers would lack a key motivation to produce, which is to sell to consumers.
How are a consumer's preferences over goods represented?
how are a consumer's preferences over goods represented? by a utility function written as U(C,l); a consumption bundle.