Cost-benefit analysis and cost-effectiveness analysis are essentially the same thing.

Name: Cost-benefit analysis and cost-effectiveness analysis are essentially the same thing.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Cost-benefit analysis evaluates the costs and benefits of a decision or project in monetary terms, while cost-effectiveness analysis compares the relative costs and outcomes (not necessarily in monetary terms) of two or more courses of action to see which has the better ratio of benefits to costs.

Cost-Benefit Analysis and Cost-Effectiveness Analysis Are Essentially the Same Thing