Which retail format is characterized by a limited variety of merchandise and speedy checkout?

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Prepare for UCF MAR3023 Exam 4. Study effectively with quizzes and flashcards. Enhance understanding with multiple choice questions, each featuring hints and explanations. Be confident and exam-ready!

The correct answer is convenience stores, which are known for their limited variety of merchandise and emphasis on quick transactions. These stores typically stock everyday items such as snacks, beverages, and basic groceries, catering to customers looking for fast and easy shopping experiences. The layout and operations of convenience stores are designed for speed to accommodate customers who may be in a hurry, often resulting in shorter checkout times.

In contrast, department stores typically offer a wide range of products across various categories, requiring more time to navigate and shop. General merchandise retailers also focus on a broader variety of goods, while specialty stores are defined by their focused assortment and deeper selection of specific products, which can lead to more extensive shopping experiences. These characteristics do not align with the convenience store model, where rapid service and a limited selection are key attributes.