You Currently Work as a Machinist in a Factory

question 23

Multiple Choice

You currently work as a machinist in a factory. Your salary is $45,000 per year. You are thinking about quitting your job and going back to college. It will take you two years to obtain your college degree. Tuition and other costs of the education will total $60,000. The $60,000 cost of the education is a(n) :

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

Describe the effects of participation in decision making on organizations and employees.

Discuss the effect of diversity and culture on decision making.

Explain the phenomenon of group polarization and its implications.

Understand the different types of power within an organizational context.

---

Definitions:

Intrinsic Value

The actual, true value of a company or an asset based on underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors.

Pure Discount Loan

A type of loan where the borrower receives a sum of money upfront and repays a greater amount at the end of the term, with no periodic interest payments.

Face Value

The nominal or original value stated on a financial instrument, such as a bond or stock certificate.

Firm's Assets

The economic resources or valuable items owned by a company that are expected to provide future benefits.