What does Sunk cost mean?
Definitions for Sunk cost
sunk cost
This dictionary definitions page includes all the possible meanings, example usage and translations of the word Sunk cost.
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Wiktionary
sunk costnoun
A cost that has already been incurred and which cannot be recovered to any significant degree.
Wikipedia
Sunk cost
In economics and business decision-making, a sunk cost (also known as retrospective cost) is a cost that has already been incurred and cannot be recovered. Sunk costs are contrasted with prospective costs, which are future costs that may be avoided if action is taken. In other words, a sunk cost is a sum paid in the past that is no longer relevant to decisions about the future. Even though economists argue that sunk costs are no longer relevant to future rational decision-making, people in everyday life often take previous expenditures in situations, such as repairing a car or house, into their future decisions regarding those properties.
Numerology
Chaldean Numerology
The numerical value of Sunk cost in Chaldean Numerology is: 6
Pythagorean Numerology
The numerical value of Sunk cost in Pythagorean Numerology is: 5
Translations for Sunk cost
From our Multilingual Translation Dictionary
- 沉没成本Chinese
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"Sunk cost." Definitions.net. STANDS4 LLC, 2024. Web. 16 May 2024. <https://www.definitions.net/definition/Sunk+cost>.
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