An Automated Retail Shop or Vending Machine at the Airport

question 25

Multiple Choice

An automated retail shop or vending machine at the airport selling personal electronics does not create its own traffic,but rather depends on the foot traffic generated by travelers passing by.This vending machine would be considered a _______.

• A)Detour store
• B)Parasite store
• C)Freeloading retailer
• D)Dependent kiosk or cart
• E)Traffic-dependent store

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Definitions:

Demand Curve

A visual depiction showing the connection between the cost of a product or service and how much of it is wanted over a specific time frame.

Positive Externality

A benefit that affects someone who did not choose to incur that benefit, typically associated with public goods or services, like education or vaccination.

Market Inefficiency

A situation where resources are not allocated optimally, leading to a waste of resources or an inability to reach market equilibrium.

Supply And Demand Diagram

A graphical representation of the relationship between the quantity of a good or service that suppliers are willing to offer and the quantity that consumers are willing to purchase at various prices.