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The meaning of COST-EFFECTIVE is producing good results without costing a lot of money. How to use cost-effective in a sentence.
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. adjective. /ˌkɒst ɪˈfektɪv/. /ˌkɔːst ɪˈfektɪv/. (also cost-efficient) giving the best possible profit or benefits in comparison with the money that is spent. a cost-effective way to fight crime.
Definition of Cost-Effectiveness. Cost-effectiveness refers to the evaluation of the relative expenditure (costs) and outcomes (effects) of two or more courses of action. It is a crucial concept in economics, healthcare, public policy, and business decision-making, emphasizing the importance of obtaining the maximum benefit from limited resources.
Cost-effectiveness refers to the ability of an action, program, or investment to produce desired outcomes relative to its cost. It is a critical concept in business, economics, and public policy, where organizations seek to achieve maximum benefits from limited resources.
Something that is cost-effective saves or makes a lot of money in comparison with the costs involved. The bank must be run in a cost-effective way. American English : cost-effective / ˌkɑstɪˈfɛktɪv /
Britannica Dictionary definition of COST–EFFECTIVE. [more cost–effective; most cost–effective] : producing good results without costing a lot of money. They need a more cost-effective [= economical] way to store data.
COST-EFFECTIVE definition: If something is cost-effective, it achieves good results for little money.. Learn more.
Definition of cost-effective adjective in Oxford Advanced American Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Cost effective means achieving a desired outcome at the lowest possible cost. It is a measure of how well the resources used are aligned with the results achieved. A cost effective solution is one that achieves the desired outcome while using the least amount of money.