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In this video tutorial from Bullseye Money, the concept of a quote in business is explained. A quote, also referred to as a price quote or sales quote, is a financial document essential to the purchasing process. It is typically created by suppliers of goods or services for potential customers, providing a fixed price for the offerings. Commonly encountered in various industries such as plumbing, electrical, landscaping, and legal services, a quote allows customers to agree on a set price for the requested services. Once a customer accepts the quote, the price is secured, meaning the supplier is now committed to delivering the agreed-upon goods or services.