Question

the city council is considering a new ordinance to require stores to provide reusable bags and eliminate disposal paper or plastic bags. in determining whether to pass the law,

Answer 1

The answer is cost benefit analysis.

Cost-benefit analysis, also known as benefit-cost analysis, is a methodical process for determining the advantages and disadvantages of potential solutions.

       What is cost benefit analysis?

• Comparing expected or estimated costs and benefits (or opportunities) connected with a project choice in order to assess if it makes sense from a business perspective is the process of a cost-benefit analysis.
• A CBA can be used to compare completed or potential courses of action and to estimate or evaluate the value against the cost of a decision, project, or policy.
• It is used to decide which options provide the best approach to achieving benefits while preserving savings in, for example, transactions, activities, and functional business requirements.
• It is frequently used to assess commercial deals, project investments, and judgments about business or policy (especially public policy). Consider the U.S.
• Before enacting laws or deregulating existing ones, the Securities and Exchange Commission must perform cost-benefit analyses.

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