The broad principles which determine the validity/ suitability of a Highway/ road is to determine the difference between;a)The cost of the project and the economic/non economic benefit obtained from it.b)The benefit to the society from the project and the cost which the society has to pay for it.c)The price quoted by lowest bidding company in an auction system and the reserve price fixed by the government.d)None of the above.Correct answer is option 'B'. Can you explain this answer?

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The broad principles which determine the validity/ suitability of a Highway/ road is to determine the difference between;

a)
The cost of the project and the economic/non economic benefit obtained from it.
b)
The benefit to the society from the project and the cost which the society has to pay for it.
c)
The price quoted by lowest bidding company in an auction system and the reserve price fixed by the government.
d)
None of the above.

Correct answer is option 'B'. Can you explain this answer?

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The broad principles which determine the validity/ suitability of a Hi...

Explanation:

Cost-Benefit Analysis:
- The suitability of a highway or road project is determined by conducting a cost-benefit analysis.
- This analysis involves comparing the economic and non-economic benefits obtained from the project with the cost of implementing it.

Societal Benefit vs. Cost:
- Another crucial factor is assessing the benefit to society from the project versus the cost that the society has to bear.
- This involves looking at how the project will improve the overall well-being of the community and whether the cost is justified in relation to these benefits.

Price vs. Reserve Price:
- The comparison of the price quoted by the lowest bidding company in an auction system and the reserve price fixed by the government is not the determining factor for the validity/suitability of a highway or road project.
- While cost is an essential consideration, societal benefits and overall impact play a more significant role in evaluating the project.

Conclusion:
- In conclusion, the most critical factor in determining the validity and suitability of a highway or road project is the balance between the benefits it brings to society and the costs associated with its implementation.

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From the passage it can be drawn that the broad principles which determine the validity/ suitability of a Highway/ road is to determine the difference between the benefit to the society from the project and the cost which the society has to pay for it.

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The broad principles which determine the validity/ suitability of a Highway/ road is to determine the difference between;a)The cost of the project and the economic/non economic benefit obtained from it.b)The benefit to the society from the project and the cost which the society has to pay for it.c)The price quoted by lowest bidding company in an auction system and the reserve price fixed by the government.d)None of the above.Correct answer is option 'B'. Can you explain this answer?

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The broad principles which determine the validity/ suitability of a Highway/ road is to determine the difference between;a)The cost of the project and the economic/non economic benefit obtained from it.b)The benefit to the society from the project and the cost which the society has to pay for it.c)The price quoted by lowest bidding company in an auction system and the reserve price fixed by the government.d)None of the above.Correct answer is option 'B'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about The broad principles which determine the validity/ suitability of a Highway/ road is to determine the difference between;a)The cost of the project and the economic/non economic benefit obtained from it.b)The benefit to the society from the project and the cost which the society has to pay for it.c)The price quoted by lowest bidding company in an auction system and the reserve price fixed by the government.d)None of the above.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The broad principles which determine the validity/ suitability of a Highway/ road is to determine the difference between;a)The cost of the project and the economic/non economic benefit obtained from it.b)The benefit to the society from the project and the cost which the society has to pay for it.c)The price quoted by lowest bidding company in an auction system and the reserve price fixed by the government.d)None of the above.Correct answer is option 'B'. Can you explain this answer?.

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