An important part of a cost-benefit analysis is identifying

Students were enquired to answer a question at institution and to say what is most important for them to succeed. One that response stood out from the rest was practice. People who are certainly successful do not become successful by being born. They work hard and determination their lives to succeeding. This is how you can obtain your goals. in this article, are one of the answer and question example that you may make use of to practice and expand your understanding and also give you insights that should help you to keep up your study in school.

Question:

An important part of a cost-benefit analysis is identifying

A. social customs.
B. economic consequences.
C. economic forecasts.
D. social reforms.

Answer:

A cost-benefit analysis seeks to map the burden and the bonus of a decision-making, whether in the private or public sphere.

Public officials are constantly faced with making choices that impact the lives of citizens. This happens every time they need to choose a public policy.

Public policy is always a matter of choice. Resources are scarce and the public agent must make the best possible choice, that choice that will maximize social benefit.

In this way, a cost-benefit analysis should take into account:

  • The economic viability of the project
  • The reach, that is, how many people will benefit
  • Compare with other possible choices

The best choice will be the one that serves the largest number of people at the lowest possible cost.

Thus, alternative (B) is correct.

From the answer and question examples above, hopefully, they can assist the student answer the question they had been looking for and observe of every piece stated in the answer above. You would possibly then have a discussion with your classmate and continue the school learning by studying the subject altogether.

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