The answer is sunk cost
This incurred cost usually could not be recovered in any way.
For example, let's say for the business operation, you make a prepaid rent for a building for the whole year.
In this situation, the prepaid rent could be considered as a sunk cost because it's already incurred and not recoverable anymore
<span>Automatic stabilizers stabilize the level of real GDP because federal expenditures and tax revenues change as the level of real GDP changes. GDP stands for gross domestic product and it's the value of all finished goods and services produced over a set period of time. Automatica stabilizers are economic policies and programs that are designed to help offset economic activity when it fluctuates during high and low times. This keeps the economy stable without the use of government or policy makers needing to intervene </span>regularly.
A fall in the level of prices increases the money value while the increase in the prices level decreases the money value. Inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. This means as the inflation rises every dollar buys a smaller percentage of a good or a service.
Answer:
$80 lost for not working
Explanation:
Opportunity cost refers to the sacrificed benefits as a result of preferring on a particular option over another. As people make choices, the forfeit one option in favor of another. Opportunity cost is the missed value of the next best alternative.
For John, he has a choice between working or going to the concert. He has two tickets worth $50. Working would mean her twice her regular income, which is $20 per hour. If he works for four hours, his total earning will be $80. If John chooses to go to the concert, he will miss the opportunity to earn $80. The opportunity cost will be the missed $80 that he would have received from working.