Mark Is an Engineer Who Has Designed a Telecommunications Device

question 152

Multiple Choice

Mark is an engineer who has designed a telecommunications device. He is convinced that there is a big potential market for the device. Accordingly, he has decided to quit his present job and start a company to manufacture and market the device.
-Mark purchased a machine two years ago to make experimental boards.The machine will be used to manufacture the new board.The cost of this machine is:

• A) an opportunity cost
• B) a sunk cost
• C) a differential cost
• D) a period cost

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Definitions:

Cultural Capital

The non-financial social assets that promote social mobility beyond economic means, such as education, intellect, style of speech, dress, or physical appearance.

Pierre Bourdieu

A French sociologist and philosopher known for his concepts of habitus, cultural capital, and social capital which explain the dynamics of power and inequality in society.

Cultural Capital

Non-financial social assets that promote social mobility, including education, intellect, style of speech, dress, or physical appearance.

Social Reproduction

The process by which societies and social groups maintain continuity over time through mechanisms that preserve values, norms, and social structures.