What is cost?

  • (noun): The total spent for goods or services including money and time and labor.
    See also — Additional definitions below

Cost

In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. In this case, money is the input that is gone in order to acquire the thing. This acquisition cost may be the sum of the cost of production as incurred by the original producer, and further costs of transaction as incurred by the acquirer over and above the price paid to the producer. Usually, the price also includes a mark-up for profit over the cost of production.

Read more about Cost.

Some articles on cost:

Barber - Training
... Cost of Barber School—Many states require a barber license in order to practice barbering professionally ... The cost of barber school varies from state to state, and also from metro area to metro area ... Schools in larger metropolitan areas tend to cost more than those located in more rural towns ...
Zenvo - Cost
... It is estimated that the basic cost of the car, without registration or tax, will be around five million Danish kroner, which is approximately $850,000 US dollars ... The cost of putting the car on the road in Denmark would be around 16 million kroner as a result of registration expenses, but Zenvo is aiming at the ...
Vision Radio Network - History
... Many small to medium sized country towns in Australia have benefited from the cost-effective approach of using low powered FM transmitters ... The setup cost is achievable for most communities ... The ongoing cost is minimal due to low maintenance equipment with low power consumption - some stations in remote areas even use solar power ...
Experience Curve Effects - The Experience Curve
... The curve is plotted with the of cumulative units produced on the horizontal axis and unit cost on the vertical axis ... A curve showing a 15% cost reduction for every doubling of output is called an “85% experience curve”, indicating that unit costs drop to 85% of their original level ... a power law function sometimes referred to as Henderson's Law where is the cost of the first unit of production is the cost of the nth unit of production is the cumulative ...
Tax Depreciation
... Most income tax systems allow a tax deduction for recovery of the cost of assets used in a business or for the production of income ... Where the assets are consumed currently, the cost may be deducted currently as an expense or treated as part of cost of goods sold ... The cost of assets not currently consumed generally must be deferred and recovered over time, such as through depreciation ...

More definitions of "cost":

  • (verb): Be priced at.
    Example: "These shoes cost $100"
    Synonyms: be
  • (noun): The property of having material worth (often indicated by the amount of money something would bring if sold).
    Example: "He couldn't calculate the cost of the collection"
    Synonyms: monetary value, price
  • (verb): Require to lose, suffer, or sacrifice.
    Example: "This mistake cost him his job"
  • (noun): Value measured by what must be given or done or undergone to obtain something.
    Example: "The cost in human life was enormous"
    Synonyms: price, toll

Famous quotes containing the word cost:

    I acknowledge that the balance I have achieved between work and family roles comes at a cost, and every day I must weigh whether I live with that cost happily or guiltily, or whether some other lifestyle entails trade-offs I might accept more readily. It is always my choice: to change what I cannot tolerate, or tolerate what I cannot—or will not—change.
    Melinda M. Marshall (20th century)

    This people must cease to hold slaves, and to make war on Mexico, though it cost them their existence as a people.
    Henry David Thoreau (1817–1862)

    It breedeth no small offence and scandal to see and consider upon the one part the curiosity and cost bestowed by all sorts of men upon their private houses; and on the other part the unclean and negligent order and spare keeping of the houses of prayer by permitting open decays and ruins of coverings of walls and windows, and by appointing unmeet and unseemly tables with foul cloths for the communion of the sacrament.
    Elizabeth I (1533–1603)