What Kind of Growth Strategy Is Being Used When a Convenience

question 72

Short Answer

What kind of growth strategy is being used when a convenience store in a small rural town adds a deli sandwich section?

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Definitions:

Economic Contraction

A slowdown of the economy characterized by a decline in spending and during which businesses cut back on production and lay off workers.

Decline

A decrease or reduction in value, quality, or quantity over a certain period of time.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power.