Balancing the Costs and Benefits of a Good or Service

question 113

Multiple Choice

Balancing the costs and benefits of a good or service is called

• A)cost minimization.
• B)cost-benefit analysis.
• C)marginal revenue analysis.
• D)profit maximization.
• E)average benefit analysis.

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Definitions:

Congruent

In agreement or harmony, marked by compatibility between individuals, actions, or things.

Problem

A situation or question that presents difficulty, uncertainty, or challenge, which needs to be solved or answered.

Active Listening

A communication technique that involves giving full attention to the speaker, understanding their message, and responding thoughtfully.

Physical Gestures

Body movements that convey messages or emotions non-verbally.