Which of the Following Is True for Self-Service Retailing

question 94

Multiple Choice

Which of the following is true for self-service retailing?

• A) They carry more shopping goods and services such as credit and merchandise-return privileges.
• B) This service model is favored by discount stores and customers who want to save money.
• C) It results in high staffing costs compared to other forms of retailing.
• D) Salespeople are ready to assist in every phase of the "locate-compare-select" process.
• E) Customers need more information and assistance than in other forms of retailing.

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Definitions:

Substitute

A good or service that can be used in place of another, allowing consumers to switch between them based on price, preference, or availability.

Equilibrium

A situation where the supply and demand in the market are equal, leading to stable prices.

Margarine

A spread used as a substitute for butter, made from vegetable oils or animal fats.

Producer Surplus

The difference between what producers are willing to sell a good for and the price they actually receive.