Which Retail Location Types Generally Have the Largest Primary Trading

question 97

Multiple Choice

Which retail location types generally have the largest primary trading areas?

• A)regional shopping centers and central business districts
• B)strings and isolated locations
• C)secondary business districts and neighborhood shopping centers
• D)strings and regional shopping centers

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Definitions:

Short-Run Supply

The supply of goods that occurs when the sellers are only able to change some, but not all, conditions of production.

Diminishing Marginal Returns

A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain constant.

Perfectly Competitive

A perfectly competitive market is one where many buyers and sellers trade identical products so that each has no influence on the market price.

Short Run

A period in which at least one factor of production is fixed, limiting the ability of a firm to adjust to changes in market demand or supply.