Read the posts of your peers and respond to at least one. Ask clarifying questions or suggest ways the cost-benefit analysis the learner identified could be made ethical or lawful. As you did in your initial post, use your research to support your claims and be sure to cite your sources according to APA guidelines.
Student post down below:
VARYING BENEFITS AND COSTS
A cost-benefit analysis saving advantage examination is a procedure used to check the advantages of a choice or making a move less the costs identified with making that move.
These are the costs and benefits that fluctuates as the output level changes.
These are the costs that employers incur in paying wages and salaries to employees.
Raw material costs
They refer to costs incurred by an organization in acquiring raw materials to be used in the production of goods (Pearce,2012).
Benefits of high productivity resulting from motivated employees
Benefits resulting from loyal customers who are ready to spend more money on the goods which they trust.
STEPS IN COST-BENEFIT ANALYSIS
1St Step: Compile lists
Compile the lists of all benefits as well as costs related to the action. Consider both costs which are obvious and intangible costs such as opportunity costs. In addition, include all kinds of benefits.
2nd Step: Attach monetary value to costs and benefits
Assign both direct including indirect costs and benefits monetary values.
3rd Step: Make an equation and then compare
Pick the total addition of benefits and that of total costs and put in a numerical benefit/cost equation. If the numerical sum is more than costs, then the decision is profitable and vice versa.
USEFULNESS OF COST-BENEFIT IN MY YOUTH FOR TOMORROW ORGANIZATION
Analysis of cost-benefit will help Youth for Tomorrow in determining whether some policies are desirable. My organization will be able to predict if the policy’s benefits will be more than its costs (Joshua Byrd,2012). Thus, the organization can rank various policies in the ratio of cost-benefit.
CASE WHERE COST-BENEFIT ANALYSIS WAS UNETHICAL
In a situation where cost-benefit is applying to environmental issues like climate change was unethical; due to costs and benefits that are substantially dis-aggregated. Some scholars have stated that the government should not spend funds on dealing with climate change if the benefits received later are not less. This is inappropriate since climate change may be led to global warming which will affect people.