The Chapter-Opening Story of the McDonald's Organization Explains

question 71

Multiple Choice

The chapter-opening story of the McDonald's organization explains:

• A) that "fast food" is really not served very efficiently.
• B) that the McDonald's idea never caught on abroad.
• C) why so many small businesses do not succeed.
• D) that the guiding principles of McDonald's have come to dominate our social life.

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Definitions:

Purchasing Power

The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one good for another.

Diet Soda

is a low-calorie or zero-calorie carbonated beverage made with artificial sweeteners instead of sugar.

Substitution Effect

The change in consumption patterns due to a change in price, leading consumers to substitute one product for another.