James Witt plans to open a retail store to sell fishing equipment. What can you tell him about his plan?
A) He will not have a large investment in production material.
B) The merchandise he wants to sell can more than likely be purchased on credit.
C) Store space can be easily leased.
D) The probability of his survival as a retailer is low.
E) All of the above statements about Witt's plans are True.

Question

Quizplus · Accepted Answer

A) Retail stores typically focus on selling products rather than producing them, so the investment in production materials is minimal. B) Retailers often purchase inventory on credit from suppliers, paying for the goods after they are sold. C) Retail space leasing is a common practice, allowing flexibility and lower initial costs compared to purchasing property. D) While retail can be competitive, the statement is too broad and pessimistic without specific context; many retailers thrive with the right strategy and market.

James Witt Plans to Open a Retail Store to Sell