A Cost That Will Not Be Affected by Later Decisions

question 165

True/False

A cost that will not be affected by later decisions is termed an opportunity cost.

---

Definitions:

Populist Movement

A political approach that strives to appeal to ordinary people who feel that their concerns are disregarded by established elite groups.

Small Farmers

Individuals or businesses that operate smaller plots of land, typically producing agricultural goods on a scale smaller than commercial farms.

Inflation

The rate at which the general level of prices for goods and services is rising, and subsequently, eroding purchasing power.

National Chairperson

A National Chairperson is the head of a national political party, responsible for the party's operations, strategy, and organization at a national level.