: loss or penalty incurred especially in gaining something the cost of lives during war 3 costs plural : expenses incurred in a judicial process 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. "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.

Understanding the Context

[ + 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. Fixed and variable costs.

Key Insights

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. For analysis purposes, there are several types of costs, which are as follows: Variable cost.

Final Thoughts

A cost may be designated as a variable cost, which varies with the level of activity. For example, the telephone cost tends to vary with the number of employees. Fixed cost. Define costs. costs synonyms, costs pronunciation, costs translation, English dictionary definition of costs. n.

1. An amount paid or required in payment for a purchase; a price. 2. The expenditure of something, such as time or labor, necessary for the attainment of...