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The concept of cost is a key concept in Economics. It refers to the amount of payment made to acquire any goods and services. In a simpler way, the concept of cost is a financial valuation of resources, materials, risks, time and utilities consumed to purchase goods and services.
The cost-benefit analysis assigns monetary values to both the benefits and the costs of programs (or policies or projects), whereas the cost-effectiveness analysis assigns monetary values only to the costs, which usually proves easier than assigning monetary values to the benefits.
Answer and Explanation: The averted costs are considered as a benefit in the benefit-cost analysis. It compares estimated costs and projects to make a better project decision in the economy. It helps to make an estimated cost from the business perspective.
Direct costs would be direct labor involved in manufacturing, inventory, raw materials, manufacturing expenses. Indirect costs might include electricity, overhead costs from management, rent, utilities. Intangible costs of a decision, such as the impact on customers, employees, or delivery times.
Cost analysis, also known as cost-benefit analysis, is the process of calculating the potential earnings from a situation or project and subtracting the total cost associated with completing it. It predicts the profit gained from a project and compares the projects cost to its estimated financial benefits.

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The University of Arizona offers six doctoral degrees: the Doctor of Philosophy (Ph. D.), the Doctor of Education (Ed. D.), the Doctor of Audiology (Au. D.), the Doctor of Public Health (D.P.H.), the Doctor of Nursing Practice (DNP), and the Doctor of Musical Arts (D.M.A.).
A cost-benefit analysis (CBA) is a systemized approach used to assess the advantages (benefits) and disadvantages (costs) associated with a particular decision, project, or policy. The goals is to decide if the benefits outweigh the costs, meaning more informed business decision-making.
The University of Arizona Graduate College It offers extensive opportunities to pursue graduate degrees in more than one hundred different fields.

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