Inflation Taking A Bite Out Of Restaurant Owners Across The Country

Inflation Taking A Bite Out Of Restaurant Owners Across The Country

Assessment

Interactive Video

Business

University

Hard

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Tommy Buchanan, owner of Granddaddy's Hot Chicken near Nashville, emphasizes flavor in his dishes. His restaurant faces challenges due to rising ingredient costs, influenced by the pandemic and geopolitical tensions. Buchanan has had to adjust prices multiple times to attract customers, reducing his workforce from eight to one. The price of a chicken tender fluctuated from $1.25 to $3, now at $1.99. This price cut costs him $1500-$2000 weekly. Similar price hikes are seen nationwide, with inflation reported at 11.3% over the past year. Buchanan strives to keep his business afloat, urging local support.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is unique about the flavors at Granddaddy's Hot Chicken?

They are sweet and mild.

They offer a combination of heat and flavor.

They are only spicy without any flavor.

They are bland and tasteless.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How has the pandemic affected Buchanan's staffing levels?

He has reduced his staff from eight to one.

He has hired more part-time workers.

He has maintained the same number of staff.

He has increased his staff.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What pricing strategy did Buchanan adopt to attract more customers?

He reduced prices by 35%.

He kept prices the same.

He increased prices significantly.

He offered free meals.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the price change for a classic bacon, egg, and cheese sandwich in New York?

From $3.50 to $4.50

From $2.50 to $3.50

From $3.00 to $5.00

From $2.50 to $4.50

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the reported increase in wholesale inflation by the US Department of Labor?

5.3%

8.3%

15.3%

11.3%