What Is Meant by the Term 'Sunk Costs

question 20

Multiple Choice

What is meant by the term 'sunk costs'?

• A) Costs of appraising a project's viability
• B) Costs that will be lost if the project is a failure
• C) Costs which will not change, regardless of the decision to proceed with a project
• D) Costs that have already been spent on a project

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Definitions:

Ordinary Consumer Objects

Everyday items purchased and used by consumers for daily tasks and needs.

Rituals

Set patterns of behavior that are performed as part of a cultural or religious practice.

Primitive Societies

Refers to early societies that had not developed significant technological advancements, complex social structures, or written language.

Light Blue

A color that is part of the blue hue family, typically associated with calmness, serenity, and stability, often used to evoke a sense of peace and tranquility.