ECONOMICS
COST BENEFIT ANALYSIS
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Question
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When conducting a cost-benefit analysis, people analyze where to spend their money to see what will give them the most ____
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Answers
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Taxes
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Benefits
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Consequences
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Explanation:
Detailed explanation-1: -Generally speaking, cost-benefit analysis involves tallying up all costs of a project or decision and subtracting that amount from the total projected benefits of the project or decision. (Sometimes, this value is represented as a ratio.)
Detailed explanation-2: -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.
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