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A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays $20 000 a year, and take over a store building that he owns and currently rents to his brother for $6000 a year. His expenses at the sushi bar would be $50 000, for food and $2000 for gas and electricity. What are his implicit costs?
Social Distinctions
The differentiation of people into categories based on characteristics such as class, ethnicity, or gender, often leading to unequal treatment or access to resources.
Urban, Industrial Societies
Societies characterized by high levels of urbanization, technological advancement, and industrialization, affecting their social structure and culture.
Symbolic Interactionism
A theoretical framework in sociology that emphasizes the way individuals interpret and give meaning to their social world through the use of symbols and language.
Age Stratification
A system of social ranking and differentiation on the basis of age, affecting access to resources, power, and prestige.
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