The major difference between cost benefit analysis and cost effective analysis is:
A)cost benefit considers only direct costs.
B)cost effective monetizes only costs not benefits.
C)cost effective considers only direct costs.
D)there is no difference and the two terms are interchangeable.

Question

Quizplus · Accepted Answer

Cost-effective analysis focuses on the most efficient way to achieve a specific outcome, often comparing different methods by their costs without necessarily monetizing the benefits. Cost-benefit analysis, on the other hand, attempts to quantify both costs and benefits in monetary terms to assess the net effect of an action or project.

The Major Difference Between Cost Benefit Analysis and Cost Effective