Inspection Costs to lower risk of sending defective products to customers are known as$?$

Group of answer choices

Historical Costs

Minimalist Costs

Appraisal Costs

Present Costs $2.$ Lost profit on discounted products is what kind of a cost?

Group of answer choices

Profit Cost

Internal Failure Cost

Activity Cost

External Failure Cost $3.$ Which of these is not considered a prevention cost?

Group of answer choices

Staff training

Repackaging costs

Supplier qualification assessments

Product testing $4.$ The phenomenon whereby a person $($usually management$)$ is reluctant to abandon a strategy or course of action because they have invested heavily in it$,$ even when it is clear that abandonment would be more beneficial is best known as:

Group of answer choices

Sunk cost fallacy

Strategy abandonment problem

Reluctancy to abandon fallacy

Course correction issue