Question

What is cost ?


in 30 words

Answer 1

it is a sampling method is certainly much less expensive than the census method . smaller the sample size of the given population , lesser The cost of investigation .

Answer 2

In business and accounting, cost is the monetary value that a company has spent in order to produce something.

Cost denotes the amount of money that a company spends on the creation or production of goods or services. It does not include the markup for profit.

From a seller’s point of view, cost is the amount of money that is spent to produce a good or product. If a producer were to sell his products at the production price, his costs and income would break even, meaning that he would not lose money on the sales. However, he would not make a profit.

From a buyer’s point of view the cost of a product is also known as the price. This is the amount that the seller charges for a product, and it includes both the production cost and the mark-up, which is added by the seller in order to make a profit.

➡️➡️From diffrent point of view the definition of cost is diffrent⬅️⬅️

So you can take any definition for your use all are exactlt correct✔️

_________________________Hope it will help you__________________________