Economics GCSE
Costs and benefits analysis
What Costs and benefits analysis means in Economics GCSE, as defined for AQA.
Definition of Costs and benefits analysis
Check what you remember
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Reference: AQA
Weighing up the costs and benefits of different choices in every economic decision.
Topics that use Costs and benefits analysis
- Making choices (AQA GCSE)
Related terms
- Economic decision making
- Maximisation of utility, profit, and welfare
- Opportunity cost
- Scarcity
- Scarcity and resource allocation
- Rational decision making
- Scarcity and the economic problem
- Trade-offs
Using Costs and benefits analysis in the exam
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