What Is Retailing

question 39

Multiple Choice

What is retailing?

• A)It is the merchandising component of the retail mix.
• B)It is the set of business activities that adds value to the products and services sold to consumers for their personal use.
• C)It is the strategy retailers and vendors use to get products into the stores.
• D)It is the process of offering products in smaller quantities for consumer consumption patterns.
• E)It is the ability to offer enough variety in a store to encourage one-stop shopping.

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Definitions:

Constructive Condition

Conditions inferred by law to enforce fairness in the performance of contractual obligations, even if not explicitly stated in the contract.

Breach Of Contract

A failure to perform any promise that forms all or part of a contract.

Condition Precedent

A condition that must be fulfilled before a contract becomes effective or before an obligation is required to be performed.

Injunction

A legal directive mandating that a person or organization either perform or halt a particular act.