In the context of ownership arrangement, a chain store is
a. a retail business where an operator is granted a license to sell a product under a larger brand name.
b. a group of retailers, of one or more brand names, owned and operated by a single organization.
c. owned by a person or group and is not operated as part of a larger network.
d. a large discount store that specializes in a single line of merchandise and becomes the dominant retailer in its category.
Answer: b. a group of retailers, of one or more brand names, owned and operated by a single organization.