Which of the Following Statements About Outlet Centres Is True

question 93

Multiple Choice

Which of the following statements about outlet centres is true?

• A) It is predicted that the number of outlet centres will double over the next decade
• B) Outlet centres are not found outside of the United States
• C) Outlet centres have the no-frills look of warehouse stores
• D) Outlet centres are often located some distance from regional shopping centres
• E) Outlet centres sell only irregulars and overruns

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Definitions:

Elastic Demand

A situation where the demand for a product is sensitive to price changes, meaning small price changes lead to large changes in quantity demanded.

Barriers To Entry

Factors that prevent or hinder new competitors from easily entering an industry or area of business, often maintaining high levels of profit for those already established.

Product Differentiation

The process of distinguishing a product or service from others in the market to make it more attractive to a particular target market.

Monopolistic Competition

A market structure where many firms offer products that are similar but not perfect substitutes, allowing for some degree of market power.