Asked by Taylor Eakin on May 01, 2024
Verified
What does cost-benefit analysis do?
A) It compares the environment damaged compared to environment advantages.
B) It analyzes data to determine the most economically efficient course of action.
C) It objectively assesses the real costs of doing business.
D) It provides bottom-line numbers.
Cost-Benefit Analysis
A systematic approach to estimating the strengths and weaknesses of alternatives used to determine options which provide the best approach to achieve benefits while preserving savings.
Economically Efficient
A situation where resources are allocated in a way that maximizes the net benefit to society or minimizes wastage.
Environment Damaged
A state where natural habitats are compromised due to pollution, deforestation, or other harmful human activities.
- Understand the role of cost-benefit analysis in determining economically efficient actions.
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Learning Objectives
- Understand the role of cost-benefit analysis in determining economically efficient actions.
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