Question

the U.S census bureau defines NAICS code 443141 as consisting of " U.S establishment known as appliance stores, primarily engaged in retailing an array of new household appliances, such as refrigerators, dishwashers, ovens, irons, coffeemakers, hair dryers, electric razors, room air- conditions, microwave ovens, sewing machines, and vacuum cleaners, or retailing new appliances in combination appliance repair services." there are more than 48000 stores that fall within this classification. one such establishment is plaza appliance mart, on monroe road in charlotte. does this information provided allow you to determine the structure of the market within which plaza appliance mart operates? explain

Answer 1

To clearly, identify market types, from time to time most countries release their own definitions of a business establishment and to allow for norms to be set accordingly. The United States is one of the key pioneers in the same. It clearly defines areas and their by-laws so that administration becomes easier, and people are more away of both their rights and duties as responsible citizens of the State and the Country otherwise.

Each economy for counting an industry and its users or assessing economic development of a particular one, analyses institutions differently. In the case as represented, the US census Bureau's definition of establishments that deal in household appliances is laid out, and is evident that the plaza appliance mart falls in the same category and by laws hence represented.

It is good to know, why this differentiation is done. Each government aims at creating policies targeted at different industries, and the census helps in defining and clearly identifying the same respectively.

For making this possible different sections deal with different bylaws for different setups so that each can be identified properly and policies thus can be implemented to include them in the path of development respectively.

It is clear from the above stated definition, that the Plaza Appliance market can clearly be included under the preview of the US Census norms and code 443141

Please feel free to ask your doubts in the comments section.