Less Than 6 Percent of All Retail Sales Are Made

question 116

True/False

Less than 6 percent of all retail sales are made by smaller stores-those with sales of less than $1 million a year.

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Definitions:

Businesses

Economic entities (firms) that purchase resources and provide goods and services to the economy.

Product Markets

Markets where goods and services are bought and sold, connecting buyers and sellers.

Households

Economic units consisting of all individuals living in a single residence, making decisions about consumption, savings, and investment.

Business Inputs

Goods or services that are used in the production process of other goods or services, including raw materials, components, and labour.