Refer to the Scenario Below to Answer the Following Question(s)

question 39

Multiple Choice

Refer to the scenario below to answer the following question(s) .
In the 1970s, Shipshewana was only a small town with a hardware store, a grain mill, a shoe store, a small restaurant, and a grocery store. Over the next two decades, the small town transformed into an international tourist attraction, attracting thousands of tourists who were intrigued by the lifestyle of Shipshewana's largest population-the Amish.
Ben and Mary Miller, having grown up within the Amish faith, decided to capitalize on their town's popularity and their woodworking skills. Their shop, Indiana Wood, began with a small display of handmade hickory rocking chairs, Ben Miller's specialty. But within a few months, the display at Indiana Wood included picnic tables, flower boxes, and small handmade novelty items. No other shop offers the same variety.
Mary Miller decorated the shop's display room with authentic Amish décor and eventually hired three Amish friends to sew and embroider napkins and other textiles as customers had requested such items. In addition, two women from the Amish community sought permission from the Millers to display home-baked pastries and jellies on Tuesdays and Wednesdays, when Shipshewana attracts swarms of visitors to its flea market on the south edge of town. The Millers also hired four more people to help customers throughout the purchasing process and to provide the required product-related information to the customers.
"Shipshewana is full of specialty shops," Mary Miller stated. "People don't come here to buy things made in China or Taiwan. They want real, Amish-made goods."
-Retailers can also be classified by the length and breadth of their product assortments. In terms of product line, what kind of retailer is Indiana Wood?

• A) supermarket
• B) specialty store
• C) category killer
• D) department store
• E) convenience store

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Definitions:

Future Value

The estimated amount of money an investment is expected to be worth at the end of a specified period, accounting for interest or capital gains.

Compounded Semiannually

A method of calculating interest where the interest is added to the principal amount twice a year, leading to compound growth.

Total Amount

The complete sum or quantity, including all parts, elements, or aspects of something.

Compound Interest

Compound interest is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.