[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.
