What does cost-effective mean?
Cost-effective definition is - producing good results without costing a lot of money. How to use cost-effective in a sentence. The definition of cost effective is something that is a good value, where the benefits and usage are worth at least what is paid for them. An example of cost effective is .
Improve your vocabulary with English Vocabulary in Use from Cambridge. Learn the words you need to communicate with confidence. A new coat of paint: the language of decorating. Definitions Clear explanations of natural written and spoken English. Click on the arrows to change the translation direction. Follow us. Choose a dictionary. Clear explanations of natural written and spoken English.
Usage explanations of natural written and spoken English. Word Lists. Choose your language. My word lists. Tell us about this example sentence:. The word in the example sentence does not match the entry word. The sentence contains offensive content. Cancel Submit. Your feedback will be reviewed. If an activity is cost-effective, it is a good value for the amount of money paid :. It wouldn't be cost-effective to buy an expensive new computer when all you want to do is store your photos.
You can also find related meann, phrases, and synonyms in the topics: Useful or advantageous. Want to learn more? In many cases outsourcing jobs has been shown to be not cost-effective. We need to determine cot- cost-effectiveness of these emerging technologies. How do you promote and sell your product cost-effectively? Examples of cost-effective. Public broadcasting offers a cost - effective educational service used in homes and classrooms across the country.
From The Hill. Email marketing and social media are cost - effective and easy to use, but are also better are targeting individuals. Effecrive Business Insider. Other ehat, however, will prefer to remain with their traditional providers -- if they can find cost - effective plans and benefits that meet their employees' needs. From TechCrunch. These social businesses have a large potential to be effectife most cost - effectiveinnovative and efficient means to alleviate poverty.
From Huffington Post. This is accomplished by making driving less attractive and making alternative forms more cost - effectivetime-saving and convenient. From Los Angeles Times. Significant scientific and engineering hurdles remain what does cost- effective mean it becomes a dependable, cost - effectivesource of biodata. From Bloomberg. Some say the change will allow for additional, more cost - effective and healthier options.
Government expenditures onfutile supply reduction strategies and incarceration displace more cost -effective and evidence-based investments indemand and harm reduction. From NPR. The center is already having a significant impact domestically and internationally in finding more cost - effective solutions to reduce aviation's environmental footprint. From Washington Post. From VentureBeat. Making physical activity a way of life is more cost - effective than an expensive gym membership.
We need to deliver it in the most efficient, cost - effective way possible, and still have an excellent user experience. From Fast What to do if you fart a lot. Dye-based whwt cells may represent a more cost - effective alternative to traditional solar cells. From Phys. These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.
Translations of cost-effective in Chinese Traditional. See more. Need a translator? Translator tool. What is the pronunciation of cost-effective? Browse cost-benefit analysis. Test your vocabulary with our fun image quizzes. Image credits. Word of the Day syringe. About this. Blog A new coat of paint: the language of decorating April 21, Read More.
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cost-effective definition: 1. If an activity is cost-effective, it is good value for the amount of money paid: 2. If an. Learn more. cost-effective methods or processes bring the greatest possible advantage or profit when the amount that is spent is considered: In many cases outsourcing jobs has been shown to be not cost-effective. cost-effective measures / plans / programmes. cost-effectiveness An assessment or determination of the most efficient and least expensive approaches to providing health care and preventive medicine services. One component, health education, focuses on helping people to assume some responsibility for their own health maintenance and avoid preventable illness and disability.
I was wondering if you would care to comment on the difference between cost-efficient and cost-effective. In both, Oxford and Webster the free online versions , cost-effective is properly defined while the cost-efficient page points to that of cost-effective. It looks like cost-efficient is a tolerated synonym of a lesser status. As always, my starting place is The Oxford English Dictionary.
There I find a reference to cost-effective in the entry for cost :. The first OED citation given for cost-effective is dated I find no entry for cost-efficient. I conclude that there is no difference of meaning between cost-effective and cost-efficient. The OED and M-W date the terms from and , but the Ngram Viewer shows that cost-effective was present in printed sources as early as Both terms are documented in works printed in Cost-effective shows a bump on the graph in the s, but then both terms remain more or less even until the s, when cost-effective soars ahead.
Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Applying this definition to cost-effective vs. Let me also use this opportunity to thank you for all your hard work providing us with these posts.
I am certain they make a difference in what is out there to read, and I sure hope it continues to do so. Tony Cook B. If there were a number of cost effective measures to choose from, identifying one as cost efficient would mean that it was the best economic choice.
In other words a cost effective measure would not be cost efficient if you could have invested in another measure which would have given an even better economic outcome. In my opinion, cost-effective means that an investment is worth the cost in terms of its value measured by defined outcomes criteria.
A cost-efficiency analysis would in contrast strive to identify the least costly way to achieve a desired outcome. Speaking as a reasonably seasoned and otherwise anonymous denizen of the world of accounting, I think the semantics are a little more complex in technical terms.
From a lexicographical perspective, however, I yield to your experienced and well-researched points. Cost efficiency is the ability to use less resources cost to achieve greater output while cost effectiveness is the ability to use resources cost to achieve the objectives outcomes.
A program may therefore be cost effective but may not be cost efficient. To me, cost-effective suggests that every penny works, or every penny leads to an effect, thus something cost-effective means something worth the money.
In the context of the immediacy of the money required to do or acquire something, it might be more efficient to adopt a least-cost approach to that acquisition rather than take a long position.
However, it may be more cost-effective to incorporate other variables to infer whether something is cost-effective or not. Take the issue of a comprehensive warranty for two goods.
In this example, time and warranty have added further dimensions to whether the purchase was cost-efficient as opposed to cost-effective. Cost-Effective vs. Cost-Efficient By Maeve Maddox. Stop making those embarrassing mistakes! Subscribe to Daily Writing Tips today!
You will improve your English in only 5 minutes per day, guaranteed! You'll also get three bonus ebooks completely free! Try It Free Now. Maeve on October 26, am Tony Cook B.
Anke on February 09, am In my opinion, cost-effective means that an investment is worth the cost in terms of its value measured by defined outcomes criteria. Mike on October 13, pm Speaking as a reasonably seasoned and otherwise anonymous denizen of the world of accounting, I think the semantics are a little more complex in technical terms.
Sadiq on June 02, am Cost efficiency is the ability to use less resources cost to achieve greater output while cost effectiveness is the ability to use resources cost to achieve the objectives outcomes. Sean F on February 22, am To me, cost-effective suggests that every penny works, or every penny leads to an effect, thus something cost-effective means something worth the money. Conclusion: cost-effective equals cost-efficient.
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