Which of the Following Statements Regarding the Cost-Benefit Analysis Is

question 101

Multiple Choice

Which of the following statements regarding the cost-benefit analysis is NOT correct?

• A) The first step in evaluating a project is to identify its costs and benefits.
• B) In the absence of competitive markets, we can use one-sided prices to determine exact cash values.
• C) Competitive market prices allow us to calculate the value of a decision without worrying about the tastes or opinions of the decision maker.
• D) Because competitive markets exist for most commodities and financial assets, we can use them to determine cash values and evaluate decisions in most situations.

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Definitions:

Task Analysis

The process of breaking down a task into its component parts to understand the knowledge, skills, and processes required to complete it.

Arranging Work

The process of organizing tasks, responsibilities, and timelines to efficiently complete job duties or projects.

Job Design

The process of organizing tasks, responsibilities, and systems to ensure job satisfaction and to maximize employee efficiency and performance.

Job Simplification

A process of breaking down jobs and tasks into simpler, more specialized units to increase efficiency and productivity.