Number of U

question 84

Multiple Choice

number of U.S.-based retail chains have begun using lines and terminals that do not use clerks.This is an example of what level of retail service?

• A) full-service
• B) self-service
• C) limited-service
• D) customized-service
• E) functional-service

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Definitions:

Exchange

The act of trading goods, services, or currencies between two or more parties.

Trading Partners

Countries, entities, or individuals that exchange goods, services, or resources among each other.

Law of Comparative Advantage

The principle that a country should specialize in producing and exporting goods in which it has the lowest opportunity cost and import goods in which it has a comparative disadvantage.

Specialization

The process of focusing on a limited range of goods or services to gain efficiency or expertise.