The "Wheel of Retailing" Theory Says That

question 208

Multiple Choice

The "wheel of retailing" theory says that

• A)retailers go through cycles from high costs and prices to lower costs and profits.
• B)general stores will dominate U.S.retailing again in the next century.
• C)new types of retailers enter as low-status,low-margin,low-price operators and eventually offer more services and charge higher prices.
• D)None of these answers is correct.

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Definitions:

Inspect

To look over carefully in order to check the state or condition, or to detect flaws.

Conforming Goods

Goods that conform to contract specifications.

Measure Of Recovery

The methods or calculations used to determine the amount of damages to be recovered in a legal suit, typically financial compensation for loss or injury.

Market Price

The current price at which an asset or service can be bought or sold on the open market.