Explain the Concept of Standards and Cost-Benefit Analysis

question 75

Essay

Explain the concept of standards and cost-benefit analysis. Discuss the advantages of cost-effectiveness as against the cost-benefit analysis.

---

Definitions:

Anger

A strong feeling of annoyance, displeasure, or hostility.

Denial

A psychological defense mechanism wherein individuals refuse to accept reality or facts, often as a way to avoid coping with unpleasant emotions.

Depression

A mental health disorder characterized by persistently depressed mood or loss of interest in activities, causing significant impairment in daily life.

Wrongful Death

A legal term denoting a claim against a person who can be held liable for a death, typically due to negligence or other wrongful acts.