Which of the Following Is a Type of Nonstore Retailing

question 123

Multiple Choice

Which of the following is a type of nonstore retailing?

• A)warehouse clubs
• B)specialty stores
• C)online retailing
• D)services retailing
• E)factory outlets

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Definitions:

Absolute Advantage

Absolute advantage refers to the ability of a country, company, or individual to produce a good or service more efficiently than competitors, using the same amount of resources.

Trade

The trading of goods, services, or a combination of both among two or more entities, domestically or across borders.

Comparative Advantage

The capability of a person, business, or nation to manufacture a product or provide a service with a smaller opportunity cost compared to rivals.

Absolute Advantage

The capability of a country, entity, or individual to produce a particular good or service more efficiently than others, using the same amount of resources.