Which of the Following Is a Major Benefit to a Retailer's

question 58

Multiple Choice

Which of the following is a major benefit to a retailer's use of the Web as opposed to a bricks-and-mortar facility?

• A)better credit card security
• B)simpler logistics
• C)ability to target individual customers
• D)lack of clutter

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Definitions:

Purely Competitive Markets

Markets characterized by many sellers offering identical products, leading to a high degree of competition and efficiency.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Economic Profits

Profits earned by a business after accounting for both explicit costs (like wages and rents) and implicit costs (such as opportunity costs).

Creative Destruction

A concept in economics attributed to Joseph Schumpeter, describing the process by which old industries or technologies are destroyed and replaced by new ones.