Identify Two Lasting Influences of the Classical/neoclassical Schools of Thought

question 6

Essay

Identify two lasting influences of the classical/neoclassical schools of thought on the field of criminal justice.

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Definitions:

Net Cash Flow

The difference between a company's cash inflows and outflows during a specific period, providing insight into its financial health and liquidity.

Internal Rate Of Return

The discount rate at which the net present value of all the cash flows from an investment equal zero.

Present Values

The current worth of a future sum of money or stream of cash flow given a specified rate of return.

Expected Value Analysis

A statistical technique used to calculate the average outcome when the future includes scenarios that may or may not happen.