It refers to the study of feasibility of a project in terms of its total economic cost and total economic benefits.
it
means to compare total cost wiit total benefit if we add external cost with
private cost, its called total social cost if we add external benefit with
private benefit, called total social benefit.
It
helps in decision-making
It
helps in deciding whether a particular project should go ahead or not.
It
helps in comparing different projects
SCBA
aids in evaluating individual projects within the planning framework which
spells out national economic objectives and broad allocation of resources to
various sectors.