Title: Explain the economic function of retailing in local, state, national, and global economies.
Course: Small Business Marketing (12161) > Section: Exploring the Economics of Retail Operations

Explanation should include

- local economy
  - job creation
  - circulation of money
  - access to goods and services
- state economy
  - tax revenue
  - economic multiplier
  - tourism
- national economy
  - consumer spending
  - supply chain linkages
  - market trends
- global economy
  - trade and imports and exports
  - economic integration
  - cultural exchange

Explanation should also include the idea that, at every level, retailing is a dynamic force that drives commerce, stimulates innovation, and supports economic growth.

Process/Skill Questions:

- What role does consumer spending play in the local, state, and national economy?
- What is the primary economic function of retailing, and why is it important for the flow of goods and services?
- What state-level public services are available as a result of state sales tax revenue?
- What effect do local retail stores have on the economic multiplier?