214k views
5 votes
Stores, Malls, Kiosks, and gas stations are examples of ____________ __________.

1 Answer

3 votes

Final answer:

Stores, Malls, Kiosks, and gas stations are examples of monopolistic competition, a market structure with many sellers offering similar but non-identical products, commonly found in retail.

Step-by-step explanation:

Stores, Malls, Kiosks, and gas stations are examples of monopolistic competition. This is a market structure where many competitors selling products are differentiated but not identical. Retail-level markets, like those in the Mall of America, feature a large number of stores such as women's "ready-to-wear" clothing, men's and women's clothing stores, and women's specialty clothing stores, that cater to various preferences and needs, but compete with each other for customers. The availability of various goods and services, whether they are necessities or higher-order goods, depends on the size and the economic status of cities. Smaller towns may only have the most basic services like gas stations, while larger cities or megacities offer a more diverse and specialized range of products and services in their retail establishments.

User Baffe Boyois
by
8.1k points