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What is cost

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What is cost
  • 4 answers

Ankit Prasar 6 years, 11 months ago

Cost is the expense incurred by the producer on the production of the commodity.

Neelu Mishra 6 years, 11 months ago

Cost in economics includes actual expenditure on inputs and the imputed value of the inputs supplied by the owners.

Chesta Pawan Manchanda 6 years, 11 months ago

It is an expenditure incurred by the producers on fixed as well variable factors as to produce inputs.

Suhani Sharma 6 years, 11 months ago

Economic cost is the combination of gains and losses of any goods that have a value attached to them by any one individual. Economic cost is used mainly by economists as means to compare the prudence of one course of action with that of another.
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