Cost Effectiveness Analysis

How to best use available resources in a world where desires, if not needs, always exceed the capacity to fulfill them.

Refers to the concept that use of resources one place precludes their use elsewhere.

Opportunity cost is concerned with _____ _______ ______ rather than with mere ______ _______.

Thus, the _______ of a particular expenditure is the best alternative use of those funds.

The opportunity cost concept suggests that it is not enough to do something useful with the resources available. Action with a net positive effect is still wasteful if the foregone alternative would have had a _____ value.

Where can the greatest benefit be obtained for a given expenditure? - is a question of

Cost effectiveness is purely ________.

Cost-effectiveness is ________ regarding goal selection.,

The measure of efficiency in cost-effectiveness analyses.

What is the cost effectiveness ratio?

Equation for incremental analysis?