Not Every Suburban Store Is Located in a Shopping Mall

question 328

Multiple Choice

Not every suburban store is located in a shopping mall.Many neighborhoods have clusters of stores,referred to as a strip mall,to serve people who are within a 5- to 10-minute drive.Unlike the larger shopping centers,the composition of these stores usually

• A)is unplanned.
• B)includes national anchor stores.
• C)is restricted to privately owned specialty stores.
• D)is mainly fast-food restaurants.
• E)includes amusement or theme parks,or movie theaters.

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Definitions:

Price Takers

Economic agents who accept the prevailing market prices and have no influence over them due to their small market share.

Barriers To Entry

Obstacles that make it difficult to enter a particular market, such as high start-up costs, access to technology, or strict regulations.

Dynamic Process

A process characterized by constant change, activity, or progress.

Dollar Votes

The concept in economics that consumers "vote" for products and services they desire through the expenditure of their money.