Which of the Following Takes Place When an Industry Matures

question 15

Multiple Choice

Which of the following takes place when an industry matures?

• A) It forces more efficient producers to increase prices to gain market share.
• B) It forces the producers to substitute skilled craft work with cheaper labor.
• C) It results in less standardized production methods thus forcing employers to hire low skilled labor.
• D) It gets dominated by relatively few firms and the less dominant either mimic the leader or occupy niches.

Understand the role of service levels in retail and how they affect consumer choice.

Grasp the implications of retail trends such as "no-haggle" sales policies and their utility to consumers.

Understand the scale and variety of retail establishments in the United States.

Comprehend the significance of product mix and merchandise lines in retail.

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Definitions:

Tuition Reimbursement Program

An employer-provided benefit that pays for or reimburses employees for tuition expenses related to furthering their education.

Knowledge

Facts, information, and skills acquired through experience or education.

Skills

Abilities and expertise acquired through training or experience that enable effective performance in activities or tasks.

Employee Benefits

Non-wage compensations provided to employees in addition to their regular salaries or wages, such as health insurance, retirement plans, and paid time off.