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In this video from Bullseye Money, the concept of a quote in business is explained. A quote, also known as a price quote or sales quote, is a financial document provided by suppliers to potential customers during the purchasing process. It typically outlines a fixed price for goods or services that the customer intends to purchase. Examples of industries that commonly use quotes include plumbers, electricians, landscapers, and lawyers. When a customer accepts a quote, the price is locked in, which obligates the supplier to deliver the specified goods or services at the agreed amount. The video aims to help business owners understand the significance and process of creating and accepting quotes.