economic cost

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Synonyms: costs, coûts, costos, custos, co�ts

Cost: The consumption of resources such as labour time, capital, materials, fuels, etc. as the consequence of an action. In economics, all resources are valued at their opportunity cost, which is the value of the most valuable alternative use of the resources. Costs are defi ned in a variety of ways and under a variety of assumptions that affect their value. The negative of costs are benefi ts and often both are considered together, for example, net cost is the difference between gross costs and benefits. (IPCC, 2014)

IPCC, 2014

Broader terms:
economic option costs

Narrower terms:
direct costs, indirect costs, marginal costs, private costsPrivate costs are carried by individuals, companies or other entities that undertake the action. (IPCC, 2014), costs minimization problem, social costsSocial costs include additionally the external costs for the environment and for society as a whole, for example, damage costs of impacts on ecosystems, economies and people due to climate change. (IPCC, 2014), implicitly infinite costs

Linked data frontend for economic cost.

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