How Did the Two Toy Stores Williams Writes About in "The

question 4

Multiple Choice

How did the two toy stores Williams writes about in "The Social Organization of Toy Stores" differ from each other?

• A) One employed no women with children and the other employed many single mothers.
• B) One allowed low-level employees to become managers, but the other did not.
• C) One was an upscale shop and the other was more like a warehouse or big box store.
• D) All of the above are differences Williams found in the two stores.

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Definitions:

Neoclassical Economics

An economic theory that focuses on how consumer demand and production costs influence price, output, and income distribution in markets.

Behavioral Economics

A field of study that examines how psychological, cognitive, emotional, cultural, and social factors affect the economic decisions of individuals and institutions.

Rational Decision Making

A process of making choices that are logically consistent and aim at maximizing an individual's self-interest.

Behavioral Economics

A field of economics that studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.