The typical method of retail operation used by supermarkets and catalog showrooms is called ?
Correct answer: A. self-service retailing
- A. self-service retailing
- B. limited-service retailing
- C. full-service retailing
- D. service merchandiser
Explanation
Supermarkets and catalog showrooms generally use self-service retailing, allowing customers to select products with limited direct assistance. Limited-service and full-service formats provide progressively more help from sales staff.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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