In the Face of Competitive Pressure and Changes in the Way

question 78

Multiple Choice

In the face of competitive pressure and changes in the way that retailers purchase merchandise, long-term survival for wholesalers depends on:

• A) defending existing territory rather than expanding into new geographic territories.
• B) purchasing their own production facilities.
• C) serving only the largest retail chains.
• D) improving services and reducing costs.
• E) doing all of the above.

---

Definitions:

Aggregate Production

The total output of goods and services produced by an economy over a specific time period.

Net National Product

The total market value of all final goods and services produced by the residents of a country in a given time period, minus depreciation.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by a country in real terms.

Base Year

A specific year against which economic growth is measured, serving as a standard comparison for financial indices and economic data.