Retailers play a role in making distribution simpler by reducing the number of transactions required by consumersto make a purchase and by making an assortment of goods available in one location. This is called _____
a. forward integration
b. contact efficiency
c. sorting
d. reciprocity
ANSWER: b
Retailersprovidecontactefficiencybyreducingthenumberofstorescustomersmustshopintocompletetheirpurchases. Retailers are those firms in a marketing channel that sell directly to consumers as their primary function.
Business
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In situations where there is a rapid turnover, an inventory method which produces a balance sheet valuation similar to the first-in, first-out method is
a. average cost. b. base stock. c. joint cost. d. prime cost.
Business
_____ actions are initiatives required either by government regulation or civil regulation.
Fill in the blank(s) with the appropriate word(s).
Business