Past Costs Are Irrelevant for Decision-Making, but May Be Relevant

question 52

True/False

Past costs are irrelevant for decision-making, but may be relevant for predicting future costs.

---

Definitions:

Gold Seekers

Individuals who migrate or explore areas with the primary intention of discovering gold deposits.

Kill the Indian

"Kill the Indian" refers to historical policies or practices aimed at assimilating Native American individuals by erasing their indigenous cultures, identities, and languages.

Richard Henry Pratt

An American army officer best known for founding the Carlisle Indian Industrial School, advocating for the assimilation of Native Americans into European-American culture.

American Culture

A broad conglomerate of customs, traditions, language, arts, history, and social norms prevalent within the United States.