Since the 1980s, Wal-Mart Stores Have Appeared in Almost Every

question 392

Multiple Choice

Since the 1980s, Wal-Mart stores have appeared in almost every community in America. Wal-Mart buys its goods in large quantities and, therefore, at cheaper prices. Wal-Mart also locates its stores where land prices are low, usually outside of the community business district. Many customers shop at Wal-Mart because of low prices. Local retailers, like the neighborhood drug store, often go out of business because they lose customers. This story demonstrates that

• A)consumers do not react to changing prices.
• B)there are diseconomies of scale in retail sales.
• C)there are economies of scale in retail sales.
• D)there are diminishing returns to producing and selling retail goods.

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Definitions:

Half-hour

A period of time equal to thirty minutes, often used to describe the duration of events or activities.

Endocrine System

A collection of glands that produce hormones regulating metabolism, growth, sexual function, and mood among other functions.

Growth Hormones

Hormones that stimulate growth, cell reproduction, and cell regeneration in humans and other animals.

Total Sleep Time

The overall duration of sleep, including all stages of sleep, within a specific period, typically measured over one night.