If a Customer Returns Merchandise Which Has Already Been Paid

question 218

True/False

If a customer returns merchandise which has already been paid for,the retailer may give either a cash refund or a credit on account.

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Definitions:

Price Competition

A type of rivalry between businesses where the main competitive factor is the price of goods or services.

Product Differentiation

The approach of making a product or service stand out from the competition to appeal more to a specific target audience.

Advertising Extent

The scope or range of advertising efforts, including the diversity of mediums used and the breadth of target audiences reached.

Oligopoly

describes a market structure in which a few firms dominate the industry, influencing price and production levels.