Train Collector Jack McCoy Has Decided to Open a Store

question 139

Multiple Choice

Train collector Jack McCoy has decided to open a store that sells train memorabilia. After 18 months in business, he has noticed most of his sales are to the same small group of customers (about 40 people) , even though records show there are over 200 active train collectors within a 80-kilometre radius of the store. Which of the following does this retailing experience support?

• A)the optimizer principle
• B)the min-max rule demand
• C)the 80/20 principle
• D)the rule of demand

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Definitions:

Piece Rate

A wage calculation method where an employee is paid a fixed rate for each unit produced or action performed.

Compensation

Refers to the total amount of the monetary and non-monetary pay provided to an employee by an employer in return for work performed as required.

Time-Based

Relating to, measuring, or measured by the passage of time, often used in contexts like billing, scheduling, or productivity analysis.

Skill-Based

Pertaining to or focusing on the acquisition and application of practical competencies and proficiencies.