AP PSYCHOLOGY

Detailed explanation-1: -The social cost and benefit analysis is a method to support the decision-making of the national, provincial and municipal governments. Cost-benefit analyses are used for infrastructural projects, and also apply to, for example, area development projects, sustainable energy development and water and nature issues.

Detailed explanation-2: -What is cost-benefit analysis? Cost-benefit analysis is a way to compare the costs and benefits of an intervention, where both are expressed in monetary units. idea icon. Both CBA and cost-effectiveness analysis (CEA) include health outcomes.

Detailed explanation-3: -A cost-benefit analysis is a process that helps you determine the economic benefit of a decision, so you can decide whether it’s worth pursuing. It’s a useful tool when you want to avoid bias in your decision-making process-especially when you’re faced with a big decision that will impact your team or project success.

Detailed explanation-4: -Cost-benefit analysis is the examination of a decision in terms of its consequences or costs and benefits. The shadow price of a good measures the net impact on social welfare of a unit increase in the supply of that good by the public sector.