Which of the following economic characteristics is consistent with a grocery store chain?
A) Minimal competition
B) Extensive competition
C) High net income to sales
D) Differentiated product

Question

Quizplus · Accepted Answer

Grocery stores typically face extensive competition from other grocery chains, local stores, and online retailers. This competition results in lower profit margins and a focus on cost efficiency. Minimal competition, high net income to sales, and differentiated products are not typically associated with the grocery store industry.

Which of the Following Economic Characteristics Is Consistent with a Grocery