chapter 5 Flashcards
1
Q
What does Cost Benefit Analysis mean?
A
systematic approach used to evaluate the potential cost and benefit of project.
2
Q
what is type of Cost Benefit Analysis? and what does they mean?
A
- Ex ant CBA: project just started or implemented.
- Ex post CBA: the end of the project
3
Q
what are the costs and benefit of Cost Benefit Analysis in tourism
A
costs:
1. develop excess demand for recourse
2. create social problem
Benefit:
1. employment opportunity
2. increase government revenue.
4
Q
How does Cost Benefit Analysis framework measure efficiency?
A
Pareto efficient