Carlos Is an Executive of a Major Corporation

question 19

Multiple Choice

Carlos is an executive of a major corporation. Boris is a baker. Carlos earns a salary ten times as large as the salary Boris earns, and Carlos has a much larger oven for baking break. Carlos can make a loaf of bread that tastes better than Boris's bread but Boris can bake faster.

• A) Carlos has an absolute and comparative advantage over Boris in making bread.
• B) Carlos has an absolute but not comparative advantage over Boris in making bread.
• C) Carlos had a comparative but not absolute advantage over Boris in making bread.
• D) Carlos does not have an absolute or comparative advantage over Boris in making bread.

Understand the principles of scarcity and how they influence perceptions of value.

Describe methods to defend against social influence techniques based on scarcity and reciprocation.

Recognize the role and history of persuasion within social psychology.

Understand and analyze the strategies used in advertising and sales to influence consumer behavior.

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Definitions:

Hiring Hall

A place operated by a labor union or an employer association where workers are matched with available jobs, typically in the maritime and construction industries.

Duty of Fair Representation

The obligation of a union to represent all members fairly, impartially, and in good faith, particularly during collective bargaining and grievance processes.

Visible Minority Females

Women who belong to racial or ethnic minority groups that are distinguishable by physical characteristics or color, and may face unique social and economic challenges.

Trade Union

An organization formed by workers in various sectors to protect their rights and interests through collective bargaining.