What is the difference between a convenience goods store and a shopping goods store?
What will be an ideal response?
Convenience goods are usually low-priced items that are purchased often, are sold in many stores, are bought by habit, and lend themselves to self-service. Examples are candy bars, milk, bread, cigarettes, and detergents. Convenience goods stores are interested in having a high flow of customer traffic, so they try to get people to want to satisfy their needs and come in to purchase the items currently on display. The quantity of customer flow seems more important than its quality. These stores are built where the traffic flow is already heavy.
Shopping goods are usually higher-priced items, which are bought infrequently, and for which the customer compares prices. People spend much time looking for these items and talking to sales personnel about them. Therefore, capable salespeople with selling ability are required. Examples of these goods are suits, automobiles, and furniture.
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Answer the following statement true (T) or false (F)
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Fill in the blank(s) with the appropriate word(s).
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What will be an ideal response?
A product sells for $200 per unit, and its variable costs per unit are $130. Total fixed costs are $420,000. If the firm wants to earn $35,000 pretax income, how many units must be sold?
A. 5,000. B. 500. C. 6,500. D. 6,000. E. 5,500.