A Sunk Cost Is a Past Cost That Cannot Be

question 150

True/False

A sunk cost is a past cost that cannot be changed regardless of which future action is taken.

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Definitions:

Legal-Rational Authority

Is typical of modern societies. It derives from respect for the law. Laws specify how one can achieve office. People generally believe these laws are rational. If someone achieves office by following these laws, people respect their authority.

Legitimately Accomplish

To achieve or complete something in a manner that is lawful, ethical, and recognized as proper and valid.

Legitimate Power

This type of power is derived from a formal position or role within an organization or society, recognized and accepted by others as rightfully held, allowing the person or group to exert influence or control.

Coercive Institutions

Institutions, such as prisons or the military, where control is maintained through force, and compliance is enforced among its members.