ECONOMICS
COST BENEFIT ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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cost-benefit analysis
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study the determinants of educational costs
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study economies of scale in new educational technology applications
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school construction cost analysis study
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all true
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Detailed explanation-1: -The three cost elements given above (i.e., social cost, private cost and opportunity cost) can easily be combined to give an estimate of the annual cost per student for each level or type of education.
Detailed explanation-2: -Heads of higher educational institutions seek to optimize costs and increase the effectiveness of the educational institution. In this regard, they need to know how resources are allocated and used by type of activity. Due to its simplicity, direct costing methods are used.
Detailed explanation-3: -Cost analysis may be concerned with the total costs of education or with unit costs, which measure the costs of educating one pupil or student. For some purposes, however, it is necessary to measure the additional costs incurred when one additional student is enrolled.
Detailed explanation-4: -The four types of analysis that we will discuss in this series are: o One: economic impact analysis o Two: programmatic cost analysis o Three: benefit-cost analysis, and o Four: cost-effectiveness analysis. We will also discuss cost-utility analysis, a special type of cost-effectiveness analysis.