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You are here: Home / Potpourri / Economics 101: Cost Benefit Analysis

Economics 101: Cost Benefit Analysis

Economics 101: Cost Benefit Analysis

[This is part of the series: The Complete Guide To Economics 101.]

In economics, what is cost-benefit analysis?

A Cost-Benefit Analysis is a systematic way of evaluating an issue comparing both costs and benefits.

It can be used to evaluate an investment, choose a career path, or help you decide what to do with some free-time.

In reality, cost-benefit analysis can be applied to almost any decision.

The main difference in looking at it as an economist is that any cost-benefit analysis that you do should include opportunity costs.

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Filed Under: PotpourriTagged With: #Economics101

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