What does most cost effective mean?

What does most cost effective mean?

adjective. Something that is cost-effective saves or makes a lot of money in comparison with the costs involved.

What is a example of cost effective?

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 using VOIP to talk on the phone long distance. Economical in terms of the goods or services received for the money spent.

Is cost effective the same as cheap?

“Cost effective” means that it is good value. It has a very “business English” style. If you say the train is “cost effective” you are saying that you or your company will can increase your profits by using the train compared to other forms of transport. “Affordable” means that something is quite cheap.

Does cost-effective mean expensive?

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.

Is cost-effective efficient?

Efficient (adj.) – Performing or functioning in the best possible manner with the least waste of time and effort. Being cost-effective is more about getting a task done at all, while cost efficiency is about getting a task done, but with the least waste and with the best use of resources.

How do you use cost-effective in a sentence?

(1) The bank must be run in a cost-effective way. (2) It isn’t cost-effective to build cars in such small quantities. (3) It wouldn’t be cost-effective to buy an expensive new computer when all you want to do is word processing. (4) In the medium term prove to be more cost-effective.

What is the opposite of cost-effective?

What is the opposite of cost effective?

spendthrift	wasteful
careless	inefficient
uncareful	unreasonable
expensive	unprofitable
exorbitant

What’s another way to say cost-effective?

In this page you can discover 26 synonyms, antonyms, idiomatic expressions, and related words for cost-effective, like: economical, low-cost, cost-efficient, thrifty, , worthwhile, environmentally friendly, penny-wise, convenient, frugal and cost-efficiently.

Is an effective and cost-effective?

According to Dictionary.com, effective is an adjective that means, “Adequate to accomplish a purpose; producing the intended or expected result.” It is cost-effective, even when costs are high when you are pursuing the right goals.

Can you say more cost-effective?

Cost-effective shows a bump on the graph in the 1940s, but then both terms remain more or less even until the 1960s, when cost-effective soars ahead. My advice is to use the more common term: cost-effective.

What is the definition of cost efficiency?

Cost efficiency (or cost optimality), in the context of parallel computer algorithms, refers to a measure of how effectively parallel computing can be used to solve a particular problem.

What is cost benefit and cost effectiveness analysis?

The key difference between cost effectiveness analysis and cost benefit analysis is that cost-effectiveness analysis compares the relative costs and outcomes (effects) of a project whereas cost benefit analysis assigns a monetary value to the measure of the effect of a project.

What is more cost efficient?

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 .

What is the meaning of effective and efficient?

The words effective and efficient both mean “capable of producing a result,” but there is an important difference. Effective means “producing a result that is wanted”. Efficient means “capable of producing desired results without wasting materials, time, or energy”. The difference is that when something is effective it…