Thank you for visiting To conduct a cost benefit analysis a sensible person would MOST LIKELY a Focus only on costs b Ignore potential benefits c Evaluate both costs. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
Final answer:
In a cost/benefit analysis, a sensible person would evaluate both costs and benefits to make an informed decision, using a T-shaped chart for comparison.
This correct answer c
Explanation:
To conduct a cost/benefit analysis, a sensible person would MOST LIKELY evaluate both costs and benefits. This method requires a thorough examination of the positive aspects (benefits) and negative outcomes (costs) associated with a decision or action.
In essence, a cost/benefit analysis is a critical tool used to rigorously assess and compare the advantages and disadvantages before deciding on a course of action. It is central to this analysis to list all parties affected and consider monetary and non-monetary impacts, adjusting for the time value of money to attain a net present value. Decisions should lead towards actions where the perceived benefits exceed the perceived costs, and conversely, not take actions if the perceived costs exceed the benefits.
The process often involves creating a T-shaped chart to visualize and contrast costs against benefits, including both financial and welfare impacts.
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