The Primary Advantage of Automatic Vending as a Form of Retailing

question 228

Multiple Choice

The primary advantage of automatic vending as a form of retailing is that

• A) it offers a low-cost, personal method of selling products.
• B) it provides a continuous service to consumers.
• C) since vending machines must be serviced frequently, the products they sell are always fresh.
• D) vending machines require very few repairs.
• E) it eliminates the need for sales personnel.

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Definitions:

Parity Concept

A principle in economics that describes a state where the purchasing power of two currencies is equal when a basket of identical goods is priced the same in both countries.

Real Income

The income of an individual or group after adjusting for inflation, reflecting the true purchasing power of the income.

Farm Households

Families living and working on farms, typically involved in agricultural practices and production.

Prices Paid

The amount of money expended by consumers or businesses to purchase goods or services.