A Store That Does Not Create Its Own Traffic and Whose

question 43

Multiple Choice

A store that does not create its own traffic and whose trade area is determined by the dominant retailer in the shopping centre is considered a:

• A) destination store
• B) tertiary store
• C) symbiotic store
• D) secondary store
• E) primary store

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Definitions:

Demand Curve

The Demand Curve is a graph showing the relationship between the price of a good and the quantity of that good that consumers are willing to purchase at each price level.

Consumer Surplus

The difference between the maximum price a consumer is willing to pay for a product and the actual price they pay.

Total Consumer Surplus

The sum of the individual consumer surpluses of all the buyers of a good in a market.

Consumer Surplus

The discrepancy between what consumers are prepared and capable of spending on a product or service and what they actually end up spending.