What Are the Three Major Classifications of Retail Outlets in the United

question 20

Multiple Choice

What are the three major classifications of retail outlets in the United States?

• A) large-sized outlets, medium-sized specialty shops, small-sized convenience stores
• B) product-based retailers, discount-based retailers, convenience-based retailers
• C) quality-based retailers, quantity-based retailers, specialty-based retailers
• D) producer-owned retailers, franchised retailers, independently owned retailers
• E) brick-and-mortar retailers, e-retailers, hybrid retailers

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Definitions:

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a lack of understanding for other cultures.

Cultures

The shared values, practices, and social behaviors of particular groups, communities, or societies, often distinguished by tradition, language, and collective identity.

Metric System

An international decimal system of weights and measures based on the meter for length and the kilogram for mass.

International Trade

The exchange of goods, services, and capital across international borders, facilitating global economic activity.