discuss the elements of social cost benefit analysis
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It comprises not just the financial effects (investment costs, direct benefits like tax and fees, et cetera), but all the social effects, like: pollution, safety, indirect (labour) market, legal aspects, et cetera.
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A social cost benefit analysis is a good method to show the differences between project alternatives and provides information to make a well informed decision. Presentation of the uncertainties and risks. A social cost benefit analysis has several methods to take economic risks and uncertainties into account.
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