What factors should be considered when deciding whether to continue a project after incurring costs?
Why GM closed the factories? Sunk Costs

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Business, Social Studies, Architecture
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11th Grade - University
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Hard
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7 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
Explain the concept of sunk costs and how it affects decision making in business.
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3.
OPEN ENDED QUESTION
3 mins • 1 pt
In the context of the toy company scenario, what would be the best decision if the total cost of production increases significantly?
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4.
OPEN ENDED QUESTION
3 mins • 1 pt
Discuss the implications of ignoring sunk costs in personal finance decisions, such as investing in stocks.
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5.
OPEN ENDED QUESTION
3 mins • 1 pt
Reflect on a personal experience where you had to ignore sunk costs. What was the outcome?
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6.
OPEN ENDED QUESTION
3 mins • 1 pt
How does consumer demand influence a company's decision to close factories?
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7.
OPEN ENDED QUESTION
3 mins • 1 pt
What lessons can be learned from General Motors' decision to close factories in relation to market demand?
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