Department Stores Such as Kohl's and Macy's Are Interested in Learning

question 332

Multiple Choice

Department stores such as Kohl's and Macy's are interested in learning how much their competitors are charging for similar merchandise. Which of the following practices might these retailers utilize to identify competitors' prices?

• A) Employing comparative shoppers who systematically collect data on prices at competing stores
• B) Stealing price lists from a display at a trade show
• C) Hiring sales representatives from competitor's companies and asking them to share price information
• D) Pretending to be a buyer and soliciting pricing information from their competitor

Understand the significance of barriers to entry in oligopolistic industries.

Grasp the concept of concentration ratios and their implications.

Distinguish between interindustry competition and intra-industry competition.

Comprehend the impact of economies of scale on industry dynamics.

---

Definitions:

Ethics

The branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong behavior.

Right And Wrong

Philosophical concepts that define behaviors or actions as acceptable or unacceptable based on moral, ethical, or legal standards.

Ethics

Ethics is the branch of philosophy that deals with questions about morality, values, and principles of right and wrong behavior.

Responsibility

The obligation to carry out duties or tasks effectively and being accountable for the outcomes.