How might a clothing store differentiate itself from its competitors? List at least three ways
Answers will vary. Possible examples include the factors that affect consumer choice: location, convenience, pricing, and service. For example, a store might attract customers by offering advice and assistance, speedy alterations, or rapid service at the cash register or web site.
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Quotas and tariffs both serve the purpose of
A) increasing foreign trade. B) restricting foreign trade. C) causing domestic producers to lose revenues. D) lowering prices on imported goods.
Economists
a. agree that the costs of moderate inflation are low and that the cost of reducing inflation is small. b. agree that the costs of moderate inflation are low, but disagree about the cost of reducing inflation. c. disagree about the costs of moderate inflation, but agree that the cost of reducing inflation is small. d. disagree about the costs of moderate inflation and disagree about the cost of reducing inflation.