Social Cost-Benefit Analysis Made Simple | Shadow Pricing & Opportunity Cost

What does society gain when a new road opens? What does it give up? This video explains social cost-benefit analysis through an illustrated Indian bypass example. Follow simple explanations of the without-project baseline and the value of travel-time savings. Learn why project comparisons need the same reference year. Understand how shadow prices differ from payments, and why free government land still carries an opportunity cost. The examples explain each calculation step by step, without assuming prior economics knowledge. Suitable for construction management students and beginners studying infrastructure appraisal. All numerical examples are illustrative teaching assumptions.