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 cost


The 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 [..]
Source: www-personal.umich.edu

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economic cost


Another 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 [..]
Source: glossary.econguru.com

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economic cost


Definition 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 [..]
Source: investorwords.com

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economic cost


a cost involved in a trade-off that requires spending money
Source: worldatlas.com

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economic cost


The 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.
Source: sars.gov.za

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economic cost


The loss of money and/or resources, both tangible and intangible.
Source: nadk.flinders.edu.au

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economic cost


Another 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 [..]
Source: amosweb.com

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