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

question 236

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 are boycotting local retailers whose prices are relatively higher.
• 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:

Eysenck

A psychologist known for his work in the fields of personality, behavior genetics, and the biological basis of intelligence.

Extraversion-Introversion

A personality dimension that characterizes individuals on a continuum from outgoing and energy-gathering from external sources (extraversion) to quiet and energy-gathering from internal sources (introversion).

Autonomic Reactivity

The degree to which the autonomic nervous system responds to stress or emotional stimuli, affecting heart rate, breathing, and other involuntary functions.

Intelligence

The ability to acquire and apply knowledge and skills.