What Is the Term for an Off-Price Retailer That Is

question 26

Multiple Choice

What is the term for an off-price retailer that is owned and operated by a manufacturer and carries one line of merchandise-its own?

• A)mass merchandiser
• B)factory outlet
• C)wholesale club
• D)discount store

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Definitions:

More Elastic

Describes demand that is highly sensitive to changes in price, where consumers significantly alter their quantity demanded with slight price variations.

Price-Discriminating Firm

A company that engages in the practice of charging different prices for the same product in different markets or segments.

Elastic Demand

Refers to a situation where the quantity demanded of a good or service significantly changes in response to a change in price.

Inelastic Demand

A situation where the demand for a good or service is not significantly changed by alterations in its price.