WJEC Retail Keywords

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  • Created by: Myrty
  • Created on: 29-05-16 15:28
Sphere of influence
Area that people come from to buy things. High order goods have a bigger sphere of influence.
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Threshold population
Minimum population needed to support a shop. High order goods have a higher threshold population.
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Low order good
Goods brought frequently e.g. food. Also called convenience goods.
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High order goods
Goods brought less frequently e.g. electrical goods. More expensive. Also called comparison goods.
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Why has retail changed?
Transport, money, and public demand.
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Other cards in this set

Card 2

Front

Minimum population needed to support a shop. High order goods have a higher threshold population.

Back

Threshold population

Card 3

Front

Goods brought frequently e.g. food. Also called convenience goods.

Back

Preview of the back of card 3

Card 4

Front

Goods brought less frequently e.g. electrical goods. More expensive. Also called comparison goods.

Back

Preview of the back of card 4

Card 5

Front

Transport, money, and public demand.

Back

Preview of the back of card 5

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