Your author cites Ockham's razor—a logical approach which asserts that, when trying to understand a situation, the simplest explanation is usually the right one
What does this mean in the context of the K-Mart-Wal-Mart comparison in this chapter?
Ockham's razor logic asserts that the simplest explanation is usually the best one. The simple fact that many more customers choose Wal-Mart over K-mart accounts for Wal-Marts superiority of results, despite many similarities between the two stores.
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Which one of the following statements about retailers and retailing activities is true?
A) Retailers create form utility. B) Most retailers are multi-million dollar operations. C) Retailers are members of channels of distribution. D) About half of all U.S. workers are employed by retailers. E) Retailers sell only to businesses.
If a bank provides overdraft protection at a rate of 12% for each $100 (or portion of $100) borrowed when an overdraft occurs, what amount of interest would a customer pay for a $188 overdraft?
A) $24.00 B) $22.56 C) $10.56 D) $12.00