The Three Pillars of Amazon's Business Are Large Selection, Convenience

question 5

True/False

The three pillars of Amazon's business are large selection, convenience, and lower prices.

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Definitions:

Variable Costs

Financial outlays that adjust based on the level of a firm's activity.

Selling Price

The amount a customer pays to purchase a product or service.

Fixed Costs

Fixed costs are business expenses that remain constant regardless of the level of production or sales, such as rent, salaries, and insurance premiums.

Total Fixed Costs

Expenses that do not change with the level of production or sales over a short period, including rent, insurance, and salaries.