Supermarkets

question 339

Multiple Choice

Supermarkets:

• A) Usually earn net profits that are at least 15 percent of sales.
• B) Were late adopters of the mass-merchandising concept.
• C) Usually carry about 100,000 product items per store.
• D) Are designed to maximize efficiency.
• E) All of these alternatives are correct for supermarkets.

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Definitions:

Market Wage Rate

The prevailing rate of pay for specific labor in a particular market, influenced by factors like skill level, industry demand, and availability of workers.

Profit-Maximized

The process or strategy by which a firm adjusts its production and sale operations to achieve the highest possible profit.

Power Cords

Electrical cables that connect an appliance to the main electricity supply, enabling its operation.

Market Wage Rate

The prevailing rate of pay for given work in a specific industry or region, determined by supply and demand for labor.