cost minimization; cost minimisation definition, cost min... | English dictionary

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cost

  

      n  
1    the price paid or required for acquiring, producing, or maintaining something, usually measured in money, time, or energy; expense or expenditure; outlay  
2    suffering or sacrifice; loss; penalty  
count the cost to your health, I know to my cost     
3   
a    the amount paid for a commodity by its seller  
to sell at cost     
b    (as modifier)  
the cost price     
4    pl     (Law)   the expenses of judicial proceedings  
5    at any cost or at all costs   regardless of cost or sacrifice involved  
6    at the cost of   at the expense of losing  
      vb   , costs, costing, cost  
7    tr   to be obtained or obtainable in exchange for (money or something equivalent); be priced at  
the ride cost one pound     
8    to cause or require the expenditure, loss, or sacrifice (of)  
the accident cost him dearly     
9    to estimate the cost of (a product, process, etc.) for the purposes of pricing, budgeting, control, etc.  
     (C13: from Old French (n), from coster to cost, from Latin constare to stand at, cost, from stare to stand)  
  costless      adj  


cost accounting  
      n   the recording and controlling of all the expenditures of an enterprise in order to facilitate control of separate activities,   (Also called)    management accounting  
  cost accountant      n  
cost-benefit  
      adj   denoting or relating to a method of assessing a project that takes into account its costs and its benefits to society as well as the revenue it generates  
a cost-benefit analysis, the project was assessed on a cost-benefit basis     
cost centre  
      n   a unit, such as a department of a company, to which costs may be allocated for cost accounting purposes  
cost-effective  
      adj   providing adequate financial return in relation to outlay  
  cost-effectiveness      n  
cost of living  
      n  
1   
a    the basic cost of the food, clothing, shelter, and fuel necessary to maintain life, esp. at a standard regarded as basic or minimal  
b    (as modifier)  
the cost-of-living index     
2    the average expenditure of a person or family in a given period  
cost-plus  
      n  
a    a method of establishing a selling price in which an agreed percentage is added to the cost price to cover profit  
b    (as modifier)  
cost-plus pricing     
cost-push inflation  
      n      See       inflation  
cost rent  
      n   (in Britain) the rent of a dwelling calculated on the cost of providing and maintaining the property without allowing for a profit  
current-cost accounting  
      n   a method of accounting that values assets at their current replacement cost rather than their original cost. It is often used in times of high inflation  
   Compare       historical-cost accounting  
factor cost  
      n   (in social accounting) valuation of goods and services at their overall commercial cost, including markups but excluding indirect taxes and subsidies  
historical-cost accounting  
      n   a method of accounting that values assets at the original cost. In times of high inflation profits can be overstated  
   Compare       current-cost accounting  
opportunity cost  
      n     (Economics)   the benefit that could have been gained from an alternative use of the same resource  
pound cost averaging  
      n     (Stock Exchange)   a method of accumulating capital by investing a fixed sum in a particular security at regular intervals, in order to achieve an average purchase price below the arithmetic average of the market prices on the purchase dates  
prime cost  
      n   the portion of the cost of a commodity that varies directly with the amount of it produced, principally comprising materials and labour,   (Also called)    variable cost      Compare       overheads  
standard cost  
      n     (Accounting)   the predetermined budgeted cost of a regular manufacturing process against which actual costs are compared  
unit cost  
      n   the actual cost of producing one article  
variable cost  
      n   a cost that varies directly with output  
English Collins Dictionary - English Definition & Thesaurus  
Collaborative Dictionary     English Definition
exp.
be very expensive; cost a lot
n.
swiftness;speed
adj.
suffering of a disease; destroyed
v.
continue to have something; keep something
n.
a perfect or typical speciman; an original model or pattern; prototype
n.
distributed control system; a control system for a process or plant, wherein control elements are distributed throughout the system
chemical plants, petrochemical (oil) and refineries, boiler controls and power plant systems, nuclear power plants, environmental control systems etc.
adj.
the quality of something that fails to achieve what was intended; useless
adj.
inclined to bring forward small faults; made to confuse in argument

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"Collins English Dictionary 5th Edition first published in 2000 © HarperCollins Publishers 1979, 1986, 1991, 1994, 1998, 2000 and Collins A-Z Thesaurus 1st edition first published in 1995 © HarperCollins Publishers 1995"