Meaning economic cost
What does economic cost mean? Here you find 7 meanings of the word economic cost. You can also add a definition of economic cost yourself
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economic costThe monetary cost of an object or action, including reductions in wages, profits, and property values, but not including such nonmonetary costs as adverse consequences for health or safety, or negativ [..]
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economic costAnother term for opportunity cost (the highest valued alternative foregone in the pursuit of an activity) that is used in the study of economics to indicate the fundamental role opportunity cost plays [..]
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economic costDefinition The total cost of choosing one action over another. The economic cost includes the accounting cost, or actual funds spent carrying out the action, and the opportunity cost, or the amount of [..]
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economic costa cost involved in a trade-off that requires spending money
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economic costThe cost of an alternative that must be forgone to pursue a certain action. Put another way, the benefits that could have been received by taking an alternative action.
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economic costThe loss of money and/or resources, both tangible and intangible.
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economic costAnother term for opportunity cost (the highest valued alternative foregone in the pursuit of an activity) that is used in the study of economics to indicate the fundamental role opportunity cost plays [..]
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