Suppose a Consumer Has $100 to Spend on Two Goods,shoes

question 226

Multiple Choice

Suppose a consumer has $100 to spend on two goods,shoes and shirts.If the price of a pair of shoes is $20 per pair and the price of a shirt is $15 each,which of the following combinations is unaffordable to the consumer?

• A) 5 pairs of shoes and 0 shirts
• B) 2 pairs of shoes and 4 shirts
• C) 0 pairs of shoes and 7 shirts
• D) 2 pairs of shoes and 3 shirts
• E) 0 pairs of shoes and 0 shirts

Appreciate the role of norms in shaping group behavior and identity, including initiation rites and dress codes.

Understand the concept of reference groups and their implications for attitudes and behaviors.

Distinguish between various forms of power and influence within social groups.

Recognize the significance and effects of conformity, compliance, and obedience in social contexts.

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Definitions:

Global Indicator

A metric or measure that reflects a significant trend or development on a worldwide scale, often relating to economic, environmental, or social issues.

Evidence-Based Management

The practice of making managerial decisions informed by the best available evidence.

Intellectual Capital

The intangible value of an organization's knowledge, skills, and innovative potential.

Decisions

The process of selecting among available options based on analysis and judgement to achieve a desired outcome.