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Cost-Benefit Analysis: Application

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What do you think are some of the more important, impacting cost benefit analysis that could affect a society? Do you think such an analysis could be carried out on "hot topics" like abortion, the death penalty, and same-sex marriage? What sort of items should be considered in such an analysis on budget-related issues like health care and government program cuts?

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This solution explains how cost benefit analysis can be used in social issues and in budget related issues. The sources used are also included in the solution.

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Some of the more important, impacting cost benefit analysis that could affect the society are those related to climate change and global warming, actions related to Ebola outbreak, foreign aid for development assistance, nature and animal conservation, global financial crisis and poverty. Cost benefit analysis refers to systematic approach to estimating the strengths and weaknesses of alternatives that address critical social issues (a). This method helps determine the options that provide the best approach for adoption and practice in terms of benefits in terms of labor, ...

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