cost-effective
Definition
- Adjective: Giving the best possible profit or benefits in comparison to the money that is spent; economical in terms of the value received for the cost.
Usage
The adjective "cost-effective" is used to describe a method, product, or action that provides good value for the money spent. It emphasizes efficiency and a favorable return on investment. It is commonly used in business, economics, and planning contexts.
Examples
- Adjective:
- Installing solar panels is a cost-effective way to reduce electricity bills in the long term.
- The company is looking for the most cost-effective solution to its shipping problems.
- Preventive healthcare is often more cost-effective than treating advanced diseases.
Advanced Usage
- Comparative and Superlative Forms: "Cost-effective" can be used in comparative ("more cost-effective," "less cost-effective") and superlative ("most cost-effective," "least cost-effective") forms to compare efficiency.
- We need to find a more cost-effective supplier.
- This model is the most cost-effective option in its class.
Variants and Related Words
- Cost-effectiveness (noun): The quality of being cost-effective.
- The study analyzed the cost-effectiveness of the new drug.
Synonyms
- Economical
- Efficient
- Budget-friendly
- Value-for-money
Antonyms
- Costly
- Inefficient
- Wasteful
- Uneconomical
Adjective
-
productive relative to the cost
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