Cost definition: An amount paid or required in payment for a purchase; a price.
DetailsCOST meaning: 1. the amount of money that you need to buy or do something: 2. something that you give or lose…. Learn more.
DetailsA list and definition of different types of economic costs. Fixed Costs (FC) The costs which don't vary with changing output.Fixed costs might include the cost of building a factory, insurance and legal bills. Even if your output changes or you don't produce anything, your fixed costs stay the same.
DetailsOpportunity cost definition: the money or other benefits lost when pursuing a particular course of action instead of a mutually-exclusive alternative. See examples of OPPORTUNITY COST used in a sentence.
DetailsAll months that benefited from the use of the machinery must also share in its cost. Depreciation expense in July is $ 25,000, the total cost divided by its life in months. Rental: $1,000. Prepaid rent at the beginning of the year becomes an incurred cost as the company uses up its benefits over it. That is the total divided by the number of ...
DetailsWhat is the definition of cost of production? For a business owner, knowing their cost of production is a vital step in creating and maintaining a profitable business. By knowing the cost of every step in production, management can optimize production processes, delivery schedules, and general business activities in an effort to make better ...
DetailsDefinition – Opportunity cost is the next best alternative foregone. If we spend that £20 on a textbook, the opportunity cost is the restaurant meal we cannot afford to pay. If you decide to spend two hours studying on a Friday night. The opportunity cost is that you cannot have those two hours for leisure. Importance of opportunity cost
DetailsWhat is the definition of total cost? The meaning of this term varies slightly depending on the content. For example, when using it to define production costs, it measures the total fixed, variable, and overhead expenses associated with producing a good. This is a fundamental concept for business owners and executives because it allows them to …
DetailsCOST EFFICIENCY definition: 1. → cost-effectiveness 2. a way of saving money, or of spending less money: . Learn more.
DetailsProviding adequate financial return in relation to outlay.... Click for English pronunciations, examples sentences, video.
DetailsFor example, the phrase the total cost is $27 is the same as the total price is $27. You can also say, we couldn't afford the cost of a new car or the price of a new car. Price and cost as verbs. As verbs, cost and price do not function the same, however. If we say, "The toy costs $10," we can all understand this sentence.
DetailsCOST OF LIVING definition: 1. the amount of money that a person needs to pay for basic needs such as food and somewhere to…. Learn more.
DetailsCost accounting is an accounting method that aims to capture a company's costs of production by assessing the input costs of each step of production as well as fixed costs, such as depreciation of ...
DetailsSwitching Cost Definition. Switching cost refers to the cost incurred by a customer while changing a service, product, or supplier and is not limited to just the financial cost but can also be psychological cost, time cost, etc. Every shift a customer makes comes with a cost, so it should be evaluated properly before making the switch.
DetailsDefinition of 'cost' Word Frequency. Share. ×. Credits. ×. cost (k ɔ st) Word forms: plural, 3rd person singular present tense costs, present participle costing language note: The form cost is used in the present tense, and is also the past tense and participle, ... Download our English Dictionary apps - available for both iOS and Android ...
DetailsUPFRONT COST meaning | Definition, pronunciation, translations and examples in American English
DetailsWhat is a basic definition of cost? Cost means a price that must be paid for something or a sace. Cost is used as a verb to mean to require a payment or to cause the loss of …
Details2 meanings: 1. business the costs involved in producing goods or services 2. law the expenses of judicial proceedings.... Click for more definitions.
DetailsCOST meaning: 1 : the price of something the amount of money that is needed to pay for or buy something; 2 : an amount of money that must be spent regularly to pay for something (such as running a business or raising a family) usually plural
DetailsAverage Fixed Cost Example. Let's assume it costs Company XYZ $1,000,000 to produce 1,000,000 widgets per year. This $1,000,000 cost includes $500,000 of administrative, insurance, and marketing expenses.
DetailsLow-cost definition: able to be purchased or acquired at relatively little cost. See examples of LOW-COST used in a sentence.
DetailsDefinition: A fixed cost is an expense that does not change as production volume increases or decreases within a relevant range. In other words, fixed costs are locked in place as long as operations stay within a certain size. Fixed costs are less controllable than variable costs because they aren't based on volume or operations.
DetailsCost: Definition. Cost is the sace made that is usually measured by the resources given up to achieve a particular purpose. It is a sace made in order to obtain some goods or services. Costs are not always expenses; Some costs are …
DetailsIf you cost out a product or process, you estimate what it is going to cost, for the purposes of pricing or budgeting.
DetailsPE series jaw crusher is usually used as primary crusher in quarry production lines, mineral ore crushing plants and powder making plants.
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