Lesson 86-Types and Importance of Retailing

* Retail Store-owned by 1 person or family.
Classification of Retail Store:
1.General Store-it carries wide variety of unrelated merchandise like hardware,groceries,school supplies & even dry goods.
2.Single line Store-it carries only 1 line of merchandise.
3.Specialty Store-sells only 1 line of products whose specialty is different from others.

Importance of Retailing:
a.)It employs people.
b.)It is a source of income.
c.)It is a distribution center.
d.)It adds to the economic status of the community.
e.)Taxes paid add to the income of the national government.