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Advantages and disadvantages of cost benefits analysis
Advantages and disadvantages of cost benefits analysis
Advantages and disadvantages of cost benefits analysis
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I will benefit from going faculty after finishing school, by the fact that going to college will make me ready to work in the labor market and make products or do some type of service. The meaning of Trade-off is achieving something by giving up other thing. For example I'm doing a Trading-off in this assignment, because I'm spending some hours of my day to get a good grade in this assignment. The meaning of Opportunity cost is that you choose something but you let the best alternative aside (ignore). Like going to school costs me do not do something more interesting, like going in an adventure in somewhere around the globe. Cost is what we let go, like money or time, to get other thing. One example of cost is the time I'm losing to do this
Students these days need to be able to put effort and time in their school work. You should be wanting to get your degree. College cannot be bought it is how you value your education. The value of education is based on the student’s actions. The author stated, “the decision to go to college is a decision to make an investment in their future, and investment of time and money.” The investment is to factor the value of courses to students.
To use an analogy, YOU consider whether a person should seek treatment for a disease. Even if the person cannot afford treatment a person should still seek treatment for the disease. In the same way, people who cannot afford college might be the ones who should be going to college. With that being said, the cost of college is something that people should consider when deciding whether or not they should go to college. In general, it could be argued that people should go to college if doing so would be beneficial to them. As noted earlier, it could still be countered that even if something is beneficial, it does not mean that people should do it. However, it seems reasonable to lay aside this somewhat abstract problem and focus on practical matters. It seems reasonable to hold that people should make the decision about whether to go to college or not based on the benefits rather, the cost of school. A huge question or main point for going to college would be if you would get a better paying job by attending a institution. In general, a college degree results in better pay than a highschool degree. One major problem with going to college is not being able to obtain a bachelor's degree and inevitably staying in college one or two more extra years that cannot be avoided, thus, putting oneself or his family into more debt than if he were to obtain a bachelor's degree in four
Although most will be pushed to go to college some will choose to go out into the workforce immediately and that cannot be looked down upon because that is their decision and that is what they want to do, but with that in mind they must always consider college because in a lifetime it will more than likely be the wiser decision. One who takes the risk and tries to go to college might find out they want to be a biology teacher and not an astrophysicist and that is all due to college and all the experiences that it can bring along that have absolutely nothing to do with education but of broadening horizons and making one see different points of view. That is where the true value of college lies, not with the education and degree, but with the experiences, meeting new people, learning new ideals and cultures, and the ultimate tool you gain is just finding out who you are as a person. During college you learn what you like and don’t like, what makes you happy and doesn’t, you find yourself during college and that cannot simply be overlooked because of a price tag. That is why I believe everyone should consider college and overlook the price tag all to find themselves and further them along as a human being and a
In recent discussions of "Is College Worth It?" by John Green, a controversial issue has been weather-attending college worth it or not? On the one hand, some argue that colleges are not worth attending because it is too expensive and they do not need a degree to get a good job. From this perspective, many people do not apply to a college. On the other hand, however, others insist that college is worth attending because it is expanding the knowledge and give more opportunity to find jobs. In the words of John Green one of this view 's proponents, " Education gave me perspective and context." According to this view, college is worth to apply for because it enlarges the information that people have and expands their knowledge. In sum, then, the
A degree is just a material payoff for the hard work and effort put in overtime at college. The true payoff is this idea to learn to think, to be able to control what we see and how we feel and what we derive from it. We must stay aware of our daily surroundings and not just focus on the ME, ME, ME but also consider other people and how we may be effecting them. Wallace reminds us that it is a struggle to stay conscious and alive, but if we do so we are exercising our freedom of knowledge. That is the true meaning of an education, simply being aware.
Cost advantage: by better understanding costs and constricting them out of the value-creating activities. Main focus of this strategy also known as cost leadership is to offer goods and services at lower cost than the competitors. To follow this strategy a company also consider these approaches- tight cost control, economics of scale in production and also cost minimisation.
The cost vs. benefit for is greatly in my favor. I should not have to pay much for attending college while if I acquire my desired degree and get a job I will be getting payed around $103,980 annual (Occupational Employment and Wages, May 2012 - 17-2061 Computer Hardware Engineers 2012). The demand for computer engineers is high so finding a job will not be as hard as some others may be. The cost ...
The “best option” cannot be argued in a general sense; it instead must be evaluated on a case by case basis. For example, from an economic standpoint that considers the constant increase in knowledge required to maintain a significant position in the economic hierarchy, the “best option” for a student immediately after high school graduation may be vocational training at a specialized institution.
There is no true price that you can pay for what collegeoffers. That is, because a high school graduate can readily and unfortunately expect “higherunemployment rates than college graduates” (Fain 1). And if those high school graduates happento find a job, they can expect college graduates to make approximately “$17,500 more” (TheRising Cost of Not Going to College 1) than college graduates. The statistics for going to collegemight be scary, but the ones for not going to college are terrifying.So, what exactly is so good about college? It might not seem like it, but college isn’t justthe lesser of two evils, really, college can be great for most people. College gives young adultswith the first taste of true and undeniably terrifying freedom. It gives its students greaterresponsibility. But above all else, college is a platform in which one evolves and grows within anintellectual yet social atmosphere. It allows students to make their future brighter and it sets themup for a comfortable and happy life in which they can prosper. According to Jennifer Pfeffer“college graduates report being happier” (1). That in on itself is a great attribute for collegegraduates. Just about everyone is looking and striving for happiness, college gives you a boost toachieve
There has been some debate as to whether or not college education is worth it. Some people argue that college education is worth and some people do not think college is worth it. College can be expensive, so that why some people have to use student loans to pay for school. When they graduate after college, majority of them will be in debt, because of the student loans. Most jobs do not required you to have a college degree, but you will have to have a least a high school diploma. People who choose to go to college and get their degree will have better opportunities in life. College graduates, also will get paid more than a high school graduates. There are some pros and cons about whether or not college is worth it.
In 2013, 19.9 million students were enrolled in colleges and universities (college, 2014). Also in 2013, the unemployment rate for college graduates over 25 was 3.6 percent (college, 2014). Those are both great examples of a pro and a con of attending college. Although, attending college has many pros and cons. Most college graduates make more money, but student loan debt is crippling them. Going to college helps establish great connections and you learn networking skills, however, you can still be equally as successful without a college degree. More and more jobs are requiring a college degree, but you aren’t guaranteed the job in your field with the degree. Last but not least going to college is an amazing experience, however, college doesn't necessarily grow my mind if you don't do it correctly. So you have to ask, yourself do the pros out way the cons?
For example: with the increase of the number of products produced, the cost of operating a machine also increase. Second we have batch level costs which is associated with batches; producing a multiple units of the same product that are processed together is called a batch. The third type is product level costs which arise from any activity in order to support the production of products. The fourth and the last type is facility level costs, this costs cannot be determined with a particular unit, product or batch; this costs are fixed with respect to batches, products and number of units produced. A single measure of volume is used for allocating costs to each service or product in traditional method for example: direct material cost, machine hours, direct labor cost and direct labor hours. A cost driver is an activity that generate costs, it can be generated by two types of costs the first is a particular machine 's running costs where the costs is driven by production volume as machine hours; the second is quality inspection costs where the cost is driven by the number of times the relevant activity occurs as the number of
The basic needs of people ought to be satisfied, in order to guarantee their sense of happiness. Although people have boundless needs and wants, the resources available to us are limited, that is what we called the scarcity of resources. If we want to make maximum utilization of limited resource, which determines we have to make decisions when we are facing choice. At this time, the theory of opportunity cost should be put forward. Let me take myself as an example, after I graduated with my bachelor’s degree last year, there are three opinions available to me to be chosen. The first one is to look for a job like most graduates. Then I will earn salary earlier and gain more working experience than the master graduate. The second choice is to take part in the postgraduate entrance exams in my own country. In this way, I need to spend two years on the subject I have no more passion to research. And the last one is go abroad for further study of a totally strange major which is different from my undergraduate major. After I weighed and balanced over and over again, I chose the last one which I am really interested in. Though it requires me to devote more effort than other classmates who have already learned about the relevant professional knowledge. I had no idea what is opportunity cost at that time, but I made use of it
Cohen and Felson (1979) proposed an innovative routine activity approach to analyze the crime rate trend. They summarized that only when the convergence in space and time of motivated offenders, suitable targets and the absence of capable guardians happened, crime could happen. They also mentioned that it is social structure that changed people’s legal activities of everyday life, and this in turn produced that convergence, which enriched the illegal activities. This means, even though the proportion of motivated offenders and suitable targets remain stable in the given area, the crime rate can still increase because of the increased likelihood of the convergence of those two at same time and location. In other words, the increasing dispersion
In management accounting, cost management has a crucial role and finds its foundations in understanding “cost behaviour”. “Cost behaviour analysis” can be defined as “the study of how cost changes when there is a change in an organisation’s level of activity”. (Definition https://www.accountingcoach.com/blog/what-is-cost-behavior).