If an Individual Only Thinks in Black and White (Either

question 19

Multiple Choice

If an individual only thinks in black and white (either total perfection or total failure) ,they are engaging in:

• A)overgeneralization
• B)mental filter
• C)extreme thinking
• D)emotional reasoning

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Definitions:

Direct Manufacturing Cost

These are costs that can be directly traced to the production of specific goods or services, such as raw materials and direct labor.

Differential Costs

The difference in total cost that will result from selecting one choice over another.

Sunk Costs

Sunk costs refer to money already spent and permanently lost, which cannot be recovered and should not influence future financial decisions.

Opportunity Costs

A rephrased definition: The potential gains or benefits that are lost when choosing one alternative over another in decision-making.