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rational choice

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11y ago

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What Compares a product's benefits with its costs?

Value


What is logical decision making based on thoughtful analysis that compares the benefits and costs of an action?

Rational Choice


What is marginal analysis?

A type of cost-benefit decision making that compares the extra benefits to the extra costs of an action


What is the term for logical decision making based on thoughtful analysis that compares the benefits and costs of an action?

rational planning


What factors must be considered before a scientists method can be mass-produced by an auto maker?

environmental impact, energy production costs, AND benefits of the new production method


Describe three commoly methods for performing economic cost -benefit analysis?

There are three popular techniques for assessing cost-benefit analysis or economic feasibility.· Payback analysis technique is a simple and popular method for determining if and when an investment will pay for itself. Because system development costs are incurred before benefits are accrue, it will take some time for the benefits to overtake accrued and continuing cost.· Return-on-investment (ROI) analysis is a technique that compares the lifetime profitability of alternative solutions or projects. The ROI for a solution or project is a percentage rate that measures the relationship between the amount the business gets back from an investment and the amount invested. The lifetime ROI for a potential solution or project is calculated as follows:Lifetime ROI = (Estimated lifetime benefits - Estimated Lifetime Costs) / Estimated lifetime costs· Net Present Value is an analysis technique that compares the annual discounted costs and benefits of alternative solutions.


What was an argument of dove against the Vietnam War?

The costs of victory outweighed the benefits.


What were some of the costs and possible benefits of expedition?

What were some of the costs and possible benefits of expedition


What were some of the costs and benefits of expeditions for expedition?

the costs and benefits was a chance of finding riches


What were some of the costs and benefits of explorers and sponsors?

the costs and benefits was a chance of finding riches


What were some of the costs and benefits of expeditions for explorers and sponsors?

the costs and benefits was a chance of finding riches


What were some of costs and benefits of expeditions for explorers and sponsors?

the costs and benefits was a chance of finding riches