Primary,secondary,and Fringe Trading Areas Can Be Described on the Basis

question 82

Multiple Choice

Primary,secondary,and fringe trading areas can be described on the basis of ________.

• A) outshopping by consumers
• B) the frequency with which people from various geographic localities shop at a particular store
• C) customer store loyalty
• D) the probability of large orders based upon customer residence

Understand the consequences of tied foreign aid and its effects on the agricultural sector of developing countries.

Understand the concept of technopoly and its implications on society.

Define and discuss the concept of normal accidents within technological systems.

Analyze the transition from "High Tech" to "Big Tech" and its implications for technology creation and diffusion.

---

Definitions:

Industry Equilibrium

A state where supply and demand in an industry are balanced, leading to stable prices and quantities.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial gain in excess of the opportunity costs.

Long-run Equilibrium

A state in which all firms in a market are earning zero economic profits, ensuring that no firm has an incentive to enter or exit the market.

Industry

Describes the aggregate of manufacturing or technically productive enterprises in a particular field, often named after its principal product.