Which of the following is a common method for evaluating resource allocation eff
Practice Questions
Q1
Which of the following is a common method for evaluating resource allocation effectiveness?
Cost-benefit analysis.
Random sampling.
Qualitative assessments only.
Ignoring past performance data.
Questions & Step-by-Step Solutions
Which of the following is a common method for evaluating resource allocation effectiveness?
Step 1: Understand what resource allocation means. It refers to how resources (like money, time, or materials) are distributed for different projects or activities.
Step 2: Learn about evaluating effectiveness. This means checking if the resources used are giving good results or benefits.
Step 3: Identify common methods for evaluation. One common method is cost-benefit analysis, which compares the costs of a project to the benefits it provides.
Step 4: Recognize that cost-benefit analysis helps determine if the resources were used wisely by showing if the benefits outweigh the costs.
Step 5: Conclude that since cost-benefit analysis is a common method for evaluating resource allocation effectiveness, it is the correct answer.
