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Example of an Owner's Dual Role in Capitalism
The Baker's Dilemma
A baker decides to require all her employees to wear a new, standardized uniform to improve the bakery's brand image. In the same week, she is forced to lower the price of her croissants because a new bakery opened across the street and is selling them for less. In two or three sentences, explain how this situation illustrates the two different types of power a business owner wields.
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Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
Ch.1 Prosperity, inequality, and planetary limits - The Economy 2.0 Microeconomics @ CORE Econ
Analysis in Bloom's Taxonomy
Cognitive Psychology
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The Baker's Dilemma
A Tale of Two Interactions
An owner of a small bookstore first directs an employee to rearrange a section of shelves. Later, the same owner attempts to persuade a customer to purchase a newly released hardcover book instead of a less expensive paperback. Which statement best analyzes the owner's position in these two interactions?
A business owner's power and authority change depending on whom they are interacting with. Match each of the following owner actions to the type of power dynamic it represents.
Power and Constraints in the Marketplace
In a market-based economic system, a business owner's authority to direct the work of an employee is a direct result of the decentralizing power of market competition.
A coffee shop owner instructs an employee on a new brewing method, and the employee follows the instructions. Later, the owner tries to convince a customer to buy a more expensive specialty coffee, but the customer chooses a cheaper option instead. What best explains the difference in the owner's authority in these two situations?
A Tech CEO's Two Meetings
While a business owner has centralized authority over their employees, their power is limited when dealing with customers due to the ____ nature of market competition.
The Boutique Owner's Dilemma