Sunk Costs

question 65

Multiple Choice

Sunk costs

• A)can only be measured in monetary terms
• B)are opportunity costs
• C)should influence a person's choice if that person is a marginal decision maker
• D)lower the efficiency of production
• E)should not be considered when making economic decisions

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Definitions:

Discipline and Punish

A work by Michel Foucault that examines the history of the penal system, and proposes that discipline creates "docile bodies" suited for the economic requirements of capitalism.

Torturing of Prisoners

The act of inflicting severe pain or suffering on detainees, often to obtain information or as a form of punishment.

Discipline and Punish

A concept exploring the relationship between power, control mechanisms, and social behaviour, especially in the context of prisons.

Torturing of Prisoners

refers to the act of inflicting severe pain or suffering on detainees, often to extract information or as a form of punishment, widely considered a violation of human rights.