ECONOMICS
COST BENEFIT ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The taxes that people pay when they buy something.
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A process that allows businesses and individuals to analyze where to spend money.
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The amount of money required to have or do something
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None of the above
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Detailed explanation-1: -A cost-benefit analysis is a systematic process that businesses use to analyze which decisions to make and which to forgo. The cost-benefit analyst sums the potential rewards expected from a situation or action and then subtracts the total costs associated with taking that action.
Detailed explanation-2: -A cost-benefit analysis is the process of comparing the projected or estimated costs and benefits (or opportunities) associated with a project decision to determine whether it makes sense from a business perspective.
Detailed explanation-3: -Cost–benefit analysis (CBA), sometimes also called benefit–cost analysis, is a systematic approach to estimating the strengths and weaknesses of alternatives.
Detailed explanation-4: -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-5: -It is a technique that is used to appraise and evaluate projects. The basic idea in CBA is quite simple: first, identify the costs and benefits of a project and. then measure them incomparable units (say in terms of money, and expressed in a single currency).