Examlex
What were the main characteristics of the axial age in terms of philosophy and religion? Provide at least two examples.
Sunk Cost
A cost that has already been incurred and cannot be recovered. It should not impact future business decisions because it cannot be changed.
Depreciation
The reduction in the value of an asset over time, particularly regarding tangible assets like machinery and vehicles.
Outsourcing
The business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees.
Opportunity Cost
represents the value of the best alternative foregone as a result of making a particular choice.
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