Science.6.4.B

Previous Next
The student is expected to make informed decisions by evaluating evidence from multiple appropriate sources to assess the credibility, accuracy, cost-effectiveness, and methods used; and
1666 TEKS header image

Knowledge and Skills Statement

Scientific and engineering practices. The student knows the contributions of scientists and recognizes the importance of scientific research and innovation on society.

While cost-benefit analysis asks whether the economic benefits outweigh the economic costs of a given policy, cost-effectiveness analysis is focused on the question of how much it costs to get a certain amount of output from a policy. Formulas to calculate the two are listed below. 


Cost-benefit = Benefits ($) - Costs ($) (AKA “net benefits”)

OR

Cost-benefit = Benefits ($) / Costs ($) (AKA “benefit ratio”)


Cost-effectiveness = Costs ($) / Outcome

the quality or state of being correct or precise; the degree to which the result of a measurement, calculation, or specification conforms to the correct value or a standard

the quality of being trusted and believed in

data that supports a hypothesis or an argument and is observable through the senses or technology

a new product; a new way of doing something; a new way of thinking