: loss or penalty incurred especially in gaining something the cost of lives during war 3 costs plural : expenses incurred in a judicial process Some areas have more affordability and availability of healthcare options than others, and depending on your specific needs, you may need to prioritize moving to areas with lower healthcare costs. A new car costs thousands of dollars, while in some places penny candy still only costs a penny per piece. Cost also means "cause a loss," as when a bad fumble costs your favorite football team the game, or your brother's cheating on a test costs him the respect of his favorite teacher.

Understanding the Context

"How much does this book cost?" "It costs £25." it costs something to do something It costs a lot to buy a house in this part of Sydney. [ + two objects ] The trip will cost you $1,000. Private costs are the costs that the buyer of a good or service pays the seller. [5] This can also be described as the costs internal to the firm's production function.

Key Insights

Fixed and variable costs. Some costs—like the cost of rent or heavy machinery—don’t change based on how many bicycles are produced. These are called fixed costs. Other costs, like labor and raw materials, can increase or decrease depending on how much is produced. These are called variable costs.

Final Thoughts

BAR contributing editor Nathan Steinmeyer met with Adams to discuss his journey from volunteer to dig director in Twenty Years at Megiddo . Israel Finkelstein (left) and Matthew Adams (right) at the Tel Megiddo excavation. Photo courtesy Matthew Adams. “This is a class, so you better come prepared,” said Matthew Adams, Director of the Albright Institute of Archaeological Research in Jerusalem.