Selfridges Is the Second-Largest Department Store in Great Britain

question 4

Multiple Choice

Selfridges is the second-largest department store in Great Britain.It works with House of Frasier,one of its competitors,to reduce operating costs by sharing channels of distribution to ship goods from more than 1,500 suppliers.
-Refer to Selfridges.In choosing a channel of distribution,Selfridges more than likely relied on which of the following?

• A)market factors
• B)ownership requirements
• C)production factors
• D)geodemographic requirements

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Definitions:

Division of Labor

The assignment of different parts of a manufacturing process or task to different people to improve efficiency.

Specialized Tasks

Distinct components of a job designed to be performed by individuals with specific skills or training, often to increase efficiency.

Coincidence of Wants

In barter economies, this refers to the situation where two parties each possess an item the other wants, making an exchange possible without the need for money.

Medium of Exchange

An intermediary used in trade to avoid the inconveniences of a pure barter system.