You Are Teaching a Class About the History of Parole

question 38

Essay

You are teaching a class about the history of parole and have to present a lecture on which historical figure has the most relevance today: Manuel Montesiños, Alexander Maconochie, or Sir Walter Crofton and Zebulon R. Brockway. In your lecture, be sure to demonstrate how the theories of each do or do not apply to contemporary society and your classroom.

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Definitions:

Implicit Costs

The opportunity costs of using resources that a firm already owns, representing the income the firm foregoes by using those resources internally rather than renting or selling them.

Explicit Costs

Explicit costs are direct, out-of-pocket payments for resources or services needed for production, such as wages, rent, and materials; they're easily quantifiable and recorded.

Explicit Costs

Direct, out-of-pocket expenses incurred in conducting a business activity or making a decision.

Accounting Profits

The financial gains of a company calculated by subtracting total expenses from total revenues according to standard accounting practices.