ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A cost-benefit analysis is the process used to measure the benefits of a decision or taking action minus the costs associated with taking that action. A cost-benefit analysis involves measurable financial metrics such as revenue earned or costs saved as a result of the decision to pursue a project.

Detailed explanation-2: -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: -Which of the following is true of cost-benefit analysis? It conveys that the benefits from a project should exceed its costs.

Detailed explanation-4: -Cost-benefit analysis allows an individual or organization to evaluate a decision or potential project free of biases. As such, it offers an agnostic and evidence-based evaluation of your options, which can help your business become more data-driven and logical.