Final answer:
A factory outlet is an off-price retailer that is owned and operated by the manufacturer, and stocks the manufacturers' surplus, discontinued, or irregular products.
Therefore, the correct answer is: option 2) Factory outlet.
Step-by-step explanation:
Factory outlet, also known as a factory shop, is a outlet provide a way for manufacturers to sell their excess stock directly to consumers at discounted prices.
These stores often offer products from well-known brands that are no longer available in regular retail stores or have minor defects.
Therefore, the off-price retailer that is owned and operated by the manufacturer, and stocks the manufacturers' surplus, discontinued, or irregular products is called a factory outlet.
Whereas, a warehouse club is a retail store, usually selling a wide variety of merchandise, in which customers may buy large, wholesale quantities of the store's products, which makes these clubs attractive to both bargain hunters and small business owners.
And, a supermarket is a self-service shop offering a wide variety of food, beverages and household products, organized into sections.