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The first step in understanding the costs and benefits of a decision is:

A. Identifying possible outcomes.
B. Determining all costs and benefits.
C. Identifying possible benefits.
D. Calculating the costs of all options.



Answer :

GinnyAnswer

Final answer:

Cost/Benefit Analysis involves comparing costs and benefits to aid decision-making.


Explanation:

Cost/Benefit Analysis involves comparing the costs and benefits of a decision to help in decision-making. It includes assessing what is sacrificed versus gained and weighing marginal costs against marginal benefits. One of the primary tools used is a T-shaped chart with costs on one side and benefits on the other.


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