Q. Consider the following statements:
- Chain stores were the first of the large-scale innovations in retailing.
- They have the ability to experiment in one store and apply the results to many.
Which of the above is / are correct?
Answer:
Only 2
Notes: Consumer cooperatives were the first of the large-scale innovations in retailing. Chain stores are able to purchase merchandise most economically, often going so far as to direct the goods to be manufactured to their specification. They employ highly skilled specialists in many executive tasks. They have the ability to experiment in one store and apply the results to many.