Consumers Benefit in Dealing with Chains Because

question 6

Multiple Choice

Consumers benefit in dealing with chains because

• A)corporate chains have more experience than other forms of retailers.
• B)they can own stock in the same company where they shop since corporate chain stock must be publically traded.
• C)they can establish a credit history more easily that with other forms of retailers.
• D)there are multiple outlets with similar merchandise and consistent management policies.
• E)they have less stress in making decisions since merchandise is arranged and displayed by professional designers.

---

Definitions:

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors.

Benefit From Trade

The advantage gained by countries, entities, or individuals from engaging in international trade, often including access to a wider variety of goods and services.

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors using the same amount of resources.

Comparative Advantage

A principle that states that a party should specialize in producing goods for which it has the lowest opportunity cost, leading to increased economic efficiency.