A Production Cost That Has Already Been Committed and Cannot

question 102

Multiple Choice

A production cost that has already been committed and cannot be recovered is termed a:

• A)development cost
• B)variable cost
• C)sunk cost
• D)mothball cost

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Definitions:

Banks

Institutions licensed to receive deposits, offer loans, and provide various financial services to individuals and businesses.

Economic Problems

Issues affecting an economy, including inflation, unemployment, and poverty.

Financial Institutions

Financial institutions are organizations that provide financial services, including banks, credit unions, insurance companies, and investment firms, facilitating the flow of funds and financial transactions.

High-Income Countries

High-Income Countries are nations with a high gross national income per capita, often characterized by advanced economic development and complex industrial bases.