Knowledge Check 1.2

Other than in the stockroom, where is a store's inventory kept?

• At the distribution Center

• On the sales floor

• at the manufacturer

• in the office

a retailers total inventory is

• All inventory a retailer has on order

• All inventory available in the retailer's physical stores

• All inventory owned by the retailer, regardless of its location

• All inventory sold within the past year

A retailers profit is

• the amount the company spends

• the amount the company makes in sales

• the amount the company owes

• the amount the company gets to keep, after expenses

A customer has $300 to spend on a gift and is considering buying either a product at Best Buy or at Brooks Brothers.  What type of competitive relationship exists between the two retailers in this situation?

• Direct competitiors

• indirect compeitiors

• replacement competitors

• rival comepitiors

A customer is hungry and can't decide whether to get a roast beef sandwich at Arby's or pick up Chinese food at Panda Express.  What type of competitive relationship exists between the two retailers in this situation?

• Direct Competitors

• Indirect Competitors

• Replacement Competitors

• Rival Competitors