Business
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How to Register Your Business in British Columbia
Starting a business in British Columbia (BC) is an exciting venture, and registering your business is one of the first legal steps you need to take. This guide will walk you through business registration in BC, ensuring you have all the necessary information to get your business up and running. Step 1: Choose Your Business … Read more
What is Sunk Cost?
Sunk costs are costs that have already been incurred and cannot be recovered. Examples of sunk costs include rent, marketing expenses, and the purchase of equipment. The concept of sunk costs is important to understand to make rational decisions. When making decisions, it’s important to focus on future costs and benefits rather than past ones. … Read more
What Is Opportunity Cost?
Opportunity cost is an economic concept that refers to the potential value or benefits lost or foregone when choosing one alternative over another. In other words, it represents the cost of not choosing the next best option when deciding on something. However, opportunity cost is not always measured in monetary terms. It can also refer … Read more