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aniked [119]
3 years ago
14

What do we call a cost that was already incurred and cannot be recovered in economics?

Business
1 answer:
AleksAgata [21]3 years ago
6 0

Answer:

Sunk Costs

Explanation:

A sunk cost is one that has already been incurred in the past and that cannot be recovered

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When there's an emergency situation, this ultimately implies a life and death situation which is typically characterized by having someone being in a very critical and dangerous condition. In order to be able to save such an individual or situations, it is very important and essential to have a direct and assertive supervisor who is in charge or control of the emergency situation and capable of making quick decisions that would most likely salvage the situation.

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