Since the 1980s, Wal-Mart Stores Have Appeared in Almost Every

question 392

Multiple Choice

Since the 1980s, Wal-Mart stores have appeared in almost every community in America. Wal-Mart buys its goods in large quantities and, therefore, at cheaper prices. Wal-Mart also locates its stores where land prices are low, usually outside of the community business district. Many customers shop at Wal-Mart because of low prices. Local retailers, like the neighborhood drug store, often go out of business because they lose customers. This story demonstrates that

• A)consumers do not react to changing prices.
• B)there are diseconomies of scale in retail sales.
• C)there are economies of scale in retail sales.
• D)there are diminishing returns to producing and selling retail goods.

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Definitions:

Cortical Functions

refer to the processing activities performed by the cerebral cortex, including language, thought, memory, and consciousness.

Mental Abilities

The cognitive capacities and skills that enable an individual to process information, solve problems, and understand complex ideas.

Dementia

A progressive deterioration in mental abilities due to changes in the brain that influence higher cortical functions such as thinking, memory, comprehension, and emotional control and are reflected in impaired thought and behavior, interfering with the older adult’s ability to engage in everyday activities.

Geographic Differences

Variations in cultural, environmental, economic, and social characteristics across different regions or territories.