Teachers will be able to:
- Calculate the total benefits and total costs of alternative choices.
- Evaluate and compare the full set of costs and benefits of a given scenario.
This video is available to view for EconEdLink members only.
In this economics webinar, how cost-benefit analysis provides a systematic framework for making decisions of all kinds.
This presentation provides teachers with an understanding of how rational economic decisions require an evaluation of all the costs and benefits of an alternative choices. Participants will learn how cost-benefit analysis can be used for making personal decisions and then apply their knowledge to evaluate various business decisions and government policies.