changing a school lunch program, building a small or large courthouse, planning when to repave a road are type of programs a government is most likely use a cost-benefit analysis.
What is cost-benefit analysis?
Businesses utilise a cost-benefit analysis as part of a systematic procedure to determine which options to take and which to ignore. The cost-benefit analyst adds up the potential benefits anticipated from a circumstance or course of action before deducting the overall expenses related to that course of action. Additionally, some consultants or analysts create models to put a monetary value on intangible things like the advantages and disadvantages of relocating to a specific location.
Cost-benefit analysis (CBA), also known as benefit-cost analysis or cost-benefit analysis, is a methodical strategy for determining the advantages and disadvantages of various options. It is used to choose solutions that will maximise savings while achieving benefits in areas including transactions, activities, and functional business requirements. A CBA can be used to assess current and possible courses of action, as well as to calculate or compare a decision's value to its cost. It is frequently used to assess commercial deals, project investments, and judgments about business or policy (especially public policy). For instance, before enacting laws or defragmenting existing ones, the U.S. Securities and Exchange Commission must perform cost-benefit studies.
There are two primary uses for CBA:
- A prudent investment (or decision) is one in which the benefits of the investment outweigh the expenses, and by how much.
- By contrasting the total estimated cost of each option with its total expected benefits, one can establish a framework for evaluating investments (or choices).
Supporting answer
Hence option A,B,D are correct answers
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