Future Costs That Change as a Result of a Decision

question 10

Multiple Choice

Future costs that change as a result of a decision are:

• A) Sunk costs
• B) Variable costs
• C) Differential costs
• D) Opportunity costs

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Definitions:

New Jobs

Employment positions that arise due to technological advancements, economic shifts, or societal changes.

Principles of Justice

Fundamental ethical guidelines that aim to ensure fairness, equity, and rights in society and the legal system.

Social Inequalities

The existence of unequal opportunities or treatment for different societal groups based on class, race, gender, age, or ethnicity.

Rawls

A philosopher known for his theory of justice which argues for the creation of a society where the least advantaged are as well off as possible.