单词 | Wal-Mart effect |
释义 | Wal-Mart effectDefinition A term applied by economists to describe the cascade of events resulting from the entry of a major cost-cutting influence in a local economy. Derived from the effect that a Wal-Mart store has on the economic life of a town by lowering prices, increasing consumer savings, and eventually driving uncompetitive retailers out of the area. |
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