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7.4.7 use of costs and benefits in analysing decisions (knowledge of net present value is not required)
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Comparing costs and benefits

Comparing costs and benefits

A rational decision maker compares the costs of an action with its benefits before acting. A decision improves overall welfare when total benefits exceed total costs, giving a positive net benefit.

7.4.7 use of costs and benefits in analysing decisions (knowledge of net present value is not required) Lesson

  1. Intl A Level
  2. /Economics
  3. /7.4.7 use of costs and benefits in analysing decisions (knowledge of net present value is not required)

Step-by-step lessons on CIE Intl A Level Economics 7.4.7 use of costs and benefits in analysing decisions (knowledge of net present value is not required). Each one builds up to exam-style questions.