Examlex
In what way do the last two phases in the development of causal schemes and experimentation with new means and insight differ?
Sunk Cost
A cost that has already been incurred and that cannot be changed by any decision made now or in the future.
Potential Benefit
The expected advantages or positive outcomes that may result from a specific action, investment, or decision.
Sunk Cost
A cost that has already been incurred and cannot be recovered, and thus should not impact future business decisions.
Gross Margin
The difference between sales revenue and the cost of goods sold, usually expressed as a percentage of sales revenue.
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