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Samantha's Dilemma
Samantha graduated from college and needed to decide where she wanted to work. She had several options. Her aunt Julie owned and operated a small business that she started about twenty years ago. Julie, an individual owner of her business, informed Samantha that she could work for her. On one hand, Samantha thought it would be a great opportunity to be able to work for her aunt, learn the business, and then run the business when her aunt retired. On the other hand, she also felt that she wanted something a little more challenging; a job where she could really use her education. Her other option would be to work for a company that a friend and her husband had started and jointly owned. It was a rapidly growing company with plenty of opportunity for advancement. However, Samantha had some reservations about this choice because she was not sure she wanted to work for friends. Her last option was to work for a large retail company, headquartered in Maryland, which had stores across the United States.
After much consideration, Samantha decided she didn't want an opportunity and a job because someone knew her. She wanted to prove how motivated and hard-working she was. Once she weighed all the advantages and disadvantages of her different options, she decided to work for the large retail company so that she could gain the most experience for herself.
-Refer to Samantha's Dilemma. What type of company does Samantha's friend operate?
Budget Constraint
The limits imposed on household choices by income, wealth, and product prices.
Apples
A widely consumed fruit, known for its crispiness and variety of flavors, often used as a symbol for health and education.
Utility Function
A mathematical representation of how different combinations of goods or services generate levels of happiness or satisfaction for a consumer.
Income
The money received by an individual or entity, typically on a regular basis, for work or through investments.
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