Cost-Benefit Analysis (CBA) (Grade 12 NSC Matric Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is cost-benefit analysis?
What is cost-benefit analysis?
A systematic approach comparing costs & benefits
What is the key focus difference between private and public sector CBA?
What is the key focus difference between private and public sector CBA?
Private focuses on profits; public on social impact
Why is CBA needed for free government services like roads and bridges?
Why is CBA needed for free government services like roads and bridges?
No market price exists to indicate value
How does CBA improve project decision-making?
How does CBA improve project decision-making?
Introduces objective criteria vs. subjective views
Which of these was a private cost for the Gautrain project?
Which of these was a private cost for the Gautrain project?
Labour costs
Which was an external benefit of the Gautrain project?
Which was an external benefit of the Gautrain project?
Reduced traffic accidents
What are external costs and benefits also called?
What are external costs and benefits also called?
Externalities
What is the main challenge in conducting cost-benefit analysis?
What is the main challenge in conducting cost-benefit analysis?
Accurately measuring & valuing external impacts
What was the outcome of the Gautrain cost-benefit analysis?
What was the outcome of the Gautrain cost-benefit analysis?
Social benefits outweighed social costs
When is CBA most essential for resource allocation decisions?
When is CBA most essential for resource allocation decisions?
When market signals fail or don't exist