Independent Retailers Who Join Together to Form Their Own Wholesaling

question 37

Multiple Choice

Independent retailers who join together to form their own wholesaling operation and conduct joint merchandising and promotional activities are called a ________.

• A)wholesaler cooperative
• B)voluntary chain
• C)purchasing cooperative
• D)retailer cooperative
• E)hyperchain

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Definitions:

Free-Trade Zone

A designated area where goods can be imported, stored, handled, manufactured, or reconfigured without being subject to import duties.

GATT

The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement aimed at reducing global trade barriers and promoting international trade through the reduction of tariffs and other trade restrictions.

European Union

A political and economic union of 27 European countries that participate in a single market allowing free movement of goods, services, and people.

Trade Barriers

Trade Barriers are government-imposed policies or regulations that restrict international trade, often to protect domestic industries from foreign competition.