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In this video tutorial from Bullseye Money, viewers learn about the concept of quotes in business. A quote, also known as a price quote, sales quote, or quotation, is a financial document generated by suppliers for potential customers as part of the purchasing process. It typically provides a fixed price for goods or services that the customer wishes to buy. If the customer agrees to the quote, the price is locked in, committing the supplier to deliver the specified goods or services at that agreed price. This process is common in various industries, such as plumbing, landscaping, and legal services.