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Answer:
Sunk cost
Explanation:
The sunken cost is the expense previously incurred that will not be compensated in future. Plus, it's also called past expense.
The cost at the time of decision-making is not significant and it should be ignored.
In the given question, the $3,500 spent which is not now recovered and hence represents the sunk cost
Answer:
Explanation:
Private Sector enterprises have a goal of making profit and it employs more workers who work long hours. They are run by organisations and are free from Government control. They are usually funded by individual investments.
Public Sector Enterprises are fully owned and controlled by the Government. they are controlled by the government and funded by the government. They enjoy monopoly in operation.
Unemployment willl cause the production possibilities to shift inwards, so I the answer would be option A.
During massive unemployment period, production possibilities will heavily decrease due to the lower amount of capital and the lower amount of consumers for that potential product (which happen because the consumers lose a lot of its purchasing power). This situation will cause the curve to move inwards.
