Which of the following best describes cost-benefit analysis?

Cost-benefit analysis is best described as a method that evaluates all available options against their net benefits. This analysis systematically assesses the positive and negative impacts of different choices, providing a comprehensive view that includes both measurable financial elements and other relevant outcomes. It helps decision-makers quantify the benefits (such as improvements in health outcomes, patient satisfaction, or operational efficiencies) and costs (including monetary costs, resources spent, and time) associated with each option. By focusing on net benefits, this approach aims to guide stakeholders toward the most efficient and effective decision-making based on a broad range of factors, not just the immediate financial costs.

Other options do not fully capture the essence of cost-benefit analysis. While some might focus on specific aspects, such as financial elements only or qualitative outcomes, they fail to represent the holistic evaluation method inherent in an effective cost-benefit analysis. This comprehensive approach ensures that decisions reflect overall advantages and disadvantages, making option C the most accurate description.