The Wheel of Retailing Concept

question 96

Multiple Choice

The wheel of retailing concept

• A) is consistent with the emergence of supermarkets in the 1930s.
• B) explains the early success of convenience (food) stores.
• C) explains the early success of vending machines.
• D) suggests that new types of retailers usually emerge as high-price, high-cost operations, and then cut their prices as competitors enter the market.
• E) None of these alternatives is true.

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Definitions:

Public Policy

Public policy involves the creation of laws and regulations by organizations and governments.

Balance of Power

is a principle in international relations that aims to maintain stability by preventing any one state from becoming too dominant.

Power Resource Theory

A theory in political science and sociology that argues that the distribution of political power is determined by the distribution of resources within a society.

Distribution of Power

The way in which authority and control are allocated among individuals and groups within a society or organization.