The Developing Country of Nambodia Has a Retail System That

question 86

Multiple Choice

The developing country of Nambodia has a retail system that has many independent retailers,no one of which has a major share of the market.What is Nambodia's retail system called?

• A)concentrated
• B)fragmented
• C)focused
• D)consolidated
• E)exclusive

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Definitions:

Short Run

A period of time in economics during which at least one input, like plant size, is fixed and cannot be changed.

Production Costs

The total expenses incurred in the process of producing or manufacturing goods or services.

Inputs

Resources such as raw materials, labor, and capital used in the production process to create goods or services.

Total Fixed Costs

The total of all expenses that do not change, irrespective of the amount of production or the level of business operations.