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The philosophy of parens patriae holds that the government has a humanitarian responsibility to
Sunk Costs
Costs that have already been incurred and cannot be recovered, and therefore, should not be considered in making future economic decisions.
All-Day Ticket
A pass that allows unlimited use or access to a service, such as public transport or an event, for the entire day.
Marginal Benefit
The additional satisfaction or utility gained from consuming or producing one extra unit of a good or service.
Economic Sense
The rationale or logic derived from economic principles or considerations, often related to making decisions based on cost-benefit analyses.
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