Definitions for cost-effective
cost-ef·fec·tive

Princeton's WordNetRate this definition:5.0 / 1 vote

1. cost-efficient, cost-effectiveadjective

   productive relative to the cost

WiktionaryRate this definition:0.0 / 0 votes

1. cost-effectiveadjective

   Returning a benefit that justifies the initial investment; economical.

WikipediaRate this definition:0.0 / 0 votes

1. cost-effective

   Cost-effectiveness analysis (CEA) is a form of economic analysis that compares the relative costs and outcomes (effects) of different courses of action. Cost-effectiveness analysis is distinct from cost–benefit analysis, which assigns a monetary value to the measure of effect. Cost-effectiveness analysis is often used in the field of health services, where it may be inappropriate to monetize health effect. Typically the CEA is expressed in terms of a ratio where the denominator is a gain in health from a measure (years of life, premature births averted, sight-years gained) and the numerator is the cost associated with the health gain. The most commonly used outcome measure is quality-adjusted life years (QALY).Cost–utility analysis is similar to cost-effectiveness analysis. Cost-effectiveness analyses are often visualized on a plane consisting of four quadrants, the cost represented on one axis and the effectiveness on the other axis. Cost-effectiveness analysis focuses on maximising the average level of an outcome, distributional cost-effectiveness analysis extends the core methods of CEA to incorporate concerns for the distribution of outcomes as well as their average level and make trade-offs between equity and efficiency, these more sophisticated methods are of particular interest when analysing interventions to tackle health inequality.

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1. cost-effective

   Cost-effective refers to something that provides good value or benefits in comparison to its cost. It's a measure of the efficiency and economic prudence of any product, service, or operation, indicating that its performance, benefits, value, or results justify the expenditure. This term is commonly used in finance, economics, and businesses to control costs and optimize results or returns.

How to pronounce cost-effective?

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How to say cost-effective in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of cost-effective in Chaldean Numerology is: 8

2. Pythagorean Numerology

   The numerical value of cost-effective in Pythagorean Numerology is: 3

Examples of cost-effective in a Sentence

1. Michael Cuggiono:

   It's cost-effective, it's efficient, and it helps you avoid some of the problems that come with adding new employees.

2. Phil McAlister:

   The private sector is technically and financially capable of developing and operating commercial low-Earth orbit destinations, with NASA's assistance. We look forward to sharing our lessons learned and operations experience with the private sector to help them develop safe, reliable, and cost-effective destinations in space, the report we have delivered to Congress describes, in detail, our comprehensive plan for ensuring a smooth transition to commercial destinations after retirement of the International Space Station in 2030.

3. Andrew Gavil:

   It's the large manufacturers that are trying to narrow the channel of distribution that is most cost effective, that's the big story here.

4. Omar Lamrani:

   Refurbishing mothballed aircraft is not inexpensive, and hardly cost effective.

5. International Airlines Group:

   Acquiring Aer Lingus would add a fourth competitive, cost-effective airline to IAG, enabling us to develop our network using Dublin.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=cost-effective
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Cost-Effective
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Cost-Effective
4. ^ ChatGPT
   https://chat.openai.com