Identify the distinguishing feature between cost-benefit analysis and cost-effectiveness.
A)Cost-effectiveness is ethically problematic.
B)Cost-benefit analysis adopts the most efficient means available to achieving a particular standard.
C)Cost-benefit analysis is ethically problematic.
D)Cost-effectiveness uses economic criteria before setting the standards.

Question

Quizplus · Accepted Answer

A commitment to cost-effectiveness would require that, once the standards are set, we adopt the least expensive and most efficient means available for achieving those standards. Cost-benefit analysis, in contrast, uses economic criteria in setting the standards in the first place. It is cost-benefit, not cost-effectiveness, analysis that is ethically problematic.

Identify the Distinguishing Feature Between Cost-Benefit Analysis and Cost-Effectiveness