FORESTRY
ECOLOGY AND ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a study of the factors that influence decisions of producers and consumers.
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an economy in which the government decides what is manufactured.
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a balance between the supply and demand of a product.
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the comparison between the effects of an environmental decision.
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Detailed explanation-1: -What Is a Cost-Benefit Analysis? 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 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-3: -In particular, cost–benefit analysis (CBA) is applied to environmental policies in order to compare the social costs and benefits of legal environmental norms (Hansjuergens, 2004; Hansson, 2007).