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In this video from Bullseye Money, the focus is on understanding quotes in business. A quote, also known as a price quote, sales quote, or quotation, is a financial document that outlines the cost of goods or services a supplier offers to potential customers. It serves as a fixed price agreement for the delivery of these goods or services. Customers often encounter quotes when hiring professionals like plumbers or electricians. When a customer accepts a quote, the price is locked in, confirming the supplier's commitment to provide the agreed-upon services or products at the specified cost. This process is essential in the purchasing cycle for businesses.