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प्रश्न
Define the term 'cost'.
उत्तर
An amount that must be paid or taken in order to receive something. In business, the cost is usually a monetary valuation of (a) effort, (b) material, (c) resources, (d) time and utilities consumed, (e) risks incurred and (f) opportunity forgone in the production and delivery of a good or service. All expenses are costs, but not all costs are expenses.
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संबंधित प्रश्न
Give economic terms:
The cost incurred per unit of output.
Explain the concept of total cost and total revenue.
Give economic term:
Net addition made to the total cost by producing one more unit of output.
Find the odd word
Cost concepts -
Net addition made to total cost by producing one more unit of output is ______.
Distinguish Between
Total cost and Total revenue
The cost incurred by the firm to promote sales ______
Give an economic term:
The cost incurred on raw material.
Identify and explain the concept from the given illustration:
Hritik paid an additional cost of ₹75 for manufacturing an additional unit of glassware.
What is meant by research and development costs?
