In Which of the Following Cases Should a Retailer Keep

question 13

Multiple Choice

In which of the following cases should a retailer keep the product in the assortment:

• A)Easily substitutable by the customer
• B)Lower profit margin
• C)Lower stock turn than others
• D)Maintains the image of the retailer

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Definitions:

Transformation

The process of changing the structure, appearance, or character of something, often seen in economic contexts as shifts in production or technology.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, a fundamental concept in economics that captures the essence of trade-offs.

Economic Growth

The growth in the real market value of goods and services that an economy generates over a period.

Technology

The application of scientific knowledge for practical purposes, especially in industry - machinery, equipment, and software developed from such scientific knowledge.