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Thinking Like an Economist

Write a word ...

Question

Write a word or phrase or a term which can substitute each one of the following statements.

A retail shop which operates through branches.

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Solution

A retail shop which operates through branches - Chain store

Explanation:
Chain stores are owned and operated by single organizations and specialise in selling a single line of products. They are generally spread across various locations and operate on a large scale by serving a large consumer base. For example, McDonalds has branches all over India, but all these branches are managed and controlled by its head office.

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