Asked by
Brooke Giessen
on Oct 09, 2024
Verified
Cost-benefit analysis is frequently difficult to apply because it is difficult to quantify the full benefits of a public good or service.
Cost-Benefit Analysis
A systematic approach to estimating the strengths and weaknesses of alternatives used to determine the best option through weighing the cost against the benefits.
Public Good
A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.
- Appreciate the complexities and challenges in quantifying benefits for cost-benefit analysis of public goods.
Verified Answer
HV
Learning Objectives
- Appreciate the complexities and challenges in quantifying benefits for cost-benefit analysis of public goods.