B2 – Upper Intermediate
Have you ever made a bad decision and felt the need to correct or fix your mistake? Everyone in this world has experienced lapses in judgment from time to time but the way they cope with their errors varies from person to person. Unfortunately, not all of these methods are heathy or even beneficial, such as the sunk cost fallacy.
Watch the video to learn more about the sunk cost fallacy.
Vocabulary Questions:
- What does ”sunk cost” mean? “I know that there are plenty of other reasons why people stay together, but sunk cost is definitely up there.” Use this term to make your own sentence.
- Explain the meaning of the idiom “to call it quits“. “It’s better to call it quits now and save yourself from future misery.” Give two (2) synonyms or similar expressions and create a sentence using this phrase.
- What does “to dig a bigger hole” mean? “If you continue to pour more resources into a failing project, you’re just digging a bigger hole for yourself.” Use ‘to dig a bigger hole” in your own sentence.
Discussion Questions:
- What are your thoughts about sunk cost fallacy?
- Give other examples of the sunk cost fallacy.
- Talk about your personal experience with the sunk cost fallacy.
- Does the sunk cost influence your decisions? Explain.