A Sunk Cost _____

question 133

Multiple Choice

A sunk cost _____

• A) can only be measured in monetary terms.
• B) is a cost that has already been incurred and cannot be recovered.
• C) should influence a person's choice if that person is a marginal decision maker.
• D) lowers the efficiency of production.
• E) should not be considered when making economic decisions.

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Definitions:

Niche Market

A specialized segment of a larger market, defined by its unique preferences, needs, or identity, often underserved by mainstream providers.

Product/Service

The combination of goods and services offered by a company to meet consumer needs and wants.

Loves to Do

Expresses the enjoyment or passion someone has for engaging in a particular activity or job.

Skunkworks

A project developed by a small and loosely structured group, often in secrecy, focused on innovative and radical solutions.