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What empirical evidence exists to support the importance of social class as a factor in the level of educational attainment achieved? Briefly describe: resistance theory, rational choice theory, correspondence theory, and habitus and cultural reproduction.
Labor Agreement
A contractual agreement between an employer and a group of employees (often represented by a union) regarding terms of employment.
Break-Even Analysis
An evaluation to determine the point at which revenues and expenses are equal, and no net loss or gain is achieved.
Variable Costs
Costs that change in proportion to the level of activity or volume of output in a business, such as materials and labor costs.
Break-Even Point
The point at which total cost and total revenue are equal, meaning that the business makes neither a profit nor a loss.
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