When Using Cost-Benefit Analysis to Arrive at an Answer, What

question 85

Multiple Choice

When using cost-benefit analysis to arrive at an answer, what is the second step?

• A) To identify the benefits of an action, and then to add up their value
• B) To identify the costs of an action, and then to add up their value
• C) To compare the value of the costs to the value of the benefits
• D) To identify the principles of justice involved

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Definitions:

Equipment Used

Equipment used refers to the tools, machinery, and devices employed in the execution of a specific task or operation.

Productivity

The measure of how efficiently production inputs, such as labor and materials, are converted into outputs, or goods and services.

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices during a given period of time.

Shifts

Designated working periods for employees, defined by specific start and end times, to ensure continuous operation or coverage.