Final answer:
The correct answer is option 2) Department stores are large stores offering a wide range of products categorized into departments, each managed independently.
Step-by-step explanation:
In business, large stores offering a wide range of products categorized into departments, each managed independently, are called department stores.
Department stores are known for their diverse product offerings and typically have separate sections for items such as clothing, electronics, home goods, and more. Each department is usually managed by a different team within the store.
Some well-known examples of department stores include Macy's, Sears, and Nordstrom.