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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. [ 1 ] [ 2 ] Sunk costs are contrasted with prospective costs , which are future costs that may be avoided if action is taken. [ 3 ]
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The fallacy only seems to hold water if your budget is unlimited, which is impossible in the real world. If my budget is $100, and a sunk cost is $50, then all I have left is $50 to spend on future costs. My sunk cost most definitely affects what I can or cannot do going forward so is a real, ongoing factor and does bring future consequences.
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Industry research organisations under the purview of the Ministry include the following; organisation is located in Hanoi except where noted: [2] Institute for Industry Policy and Strategy (IPS), Director General: Dr. Phan Dang Tuat
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Nguyễn Đình Chiểu was born in the southern province of Gia Định, the location of modern Saigon.He was of gentry parentage; his father was a native of Thừa Thiên–Huế, near Huế; but, during his service to the imperial government of Emperor Gia Long, he was posted south to serve under Lê Văn Duyệt, the governor of the south.