To Meet Specific Needs of a Variety of Customers, Retailers

question 66

Multiple Choice

To meet specific needs of a variety of customers, retailers must:

• A) operating with more markdowns to make room for new merchandise
• B) manage its supply chain to avoid stockouts
• C) working closer with vendors to keep prices lower
• D) extending hours of operation
• E) include only national brands

---

Definitions:

Factors Of Production

The inputs used in the production of goods or services to make an economic profit, including land, labor, capital, and entrepreneurship.

Productivity

The measure of how efficiently goods and services are produced, often quantified as output per unit of input.

Determinant

A factor that decisively affects the nature or outcome of something.

Economic Sense

A term describing decisions or actions that are rational and based on sound economic principles, ensuring efficiency and cost-effectiveness in achieving desired outcomes.