What Are Sunk Costs

question 72

Multiple Choice

What are sunk costs?

• A)future costs that have no benefit
• B)relevant costs that have only short-run benefits
• C)target costs
• D)allocation of costs that have already occurred

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Definitions:

Status Position

The rank or standing of an individual or group within a societal or organizational hierarchy.

Group Cohesion

A property of a group, specifically the degree to which members of a group desire to remain in that group and resist leaving it. A highly cohesive group will maintain a firm hold over its members’ time, energy, loyalty, and commitment.

Task Cohesion

Task cohesion refers to the level of unity and commitment among members of a group or team towards achieving a common goal.

Social Cohesion

The bonds or "glue" that bring people together in society, fostering a sense of belonging and mutual support.