A Methodology That Informs Managers What the Real Cost of Processes

question 8

Short Answer

A methodology that informs managers what the real cost of processes are and provides a basis of maximizing profit by encouraging profitable processes and discouraging unprofitable ones is best described as_________

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Definitions:

Excludable

A property of a good or service whereby it is possible to prevent people from using it if they have not paid for it or met specific conditions.

Club Good

A type of good that is excludable but non-rivalrous, meaning people can be prevented from using it, but one person's use does not diminish availability for others.

Cost-Benefit Analysts

Professionals who assess the economic pros and cons of different projects or decisions to determine their financial viability.

Public Projects

Initiatives funded and executed by the government aimed at benefiting the general public, such as infrastructure development and educational programs.