Economic Cost in a sentence
Synonym: total cost, opportunity cost.
Meaning: The total cost of an activity, including both explicit and implicit costs; often used in decision-making.
(1) The economic cost of climate change is projected to be astronomical.
(2) The economic cost of natural disasters can take years to recover from.
(3) The economic cost of the pandemic has been devastating for small businesses.
(4) High unemployment rates have resulted in a significant economic cost for the country.
(5) The economic cost of pollution includes healthcare expenses and damage to ecosystems.
(6) Antialcohol policies aim to reduce the economic cost of alcohol-related harm to society.
(7) The economic cost of healthcare in the United States is a major concern for many citizens.
(8) The economic cost of trade barriers can hinder international commerce and economic growth.
(9) Accounting cost is different from economic cost, which takes into account opportunity cost.
(10) The economic cost of inflation can erode the purchasing power of individuals and businesses.
Economic Cost sentence
(11) The economic cost of income inequality can lead to social unrest and reduced economic mobility.
(12) The economic cost of income tax evasion can reduce government revenue and hinder public services.
(13) Investing in renewable energy sources can help reduce the economic cost of fossil fuel dependency.
(14) The economic cost of unemployment benefits can strain government budgets and increase public debt.
(15) The economic cost of inadequate transportation infrastructure can hinder trade and economic growth.
(16) The economic cost of poor education can result in a less skilled workforce and reduced productivity.
(17) The economic cost of inadequate healthcare access can result in higher healthcare expenses in the long run.
(18) The economic cost of inadequate housing can lead to increased healthcare expenses and reduced productivity.
(19) The economic cost of food waste includes not only the wasted resources but also the impact on food security.
(20) The economic cost of crime includes not only the direct losses but also the impact on tourism and investment.
Economic Cost make sentence
(21) The economic cost of drug addiction includes healthcare expenses, lost productivity, and increased crime rates.
(22) The economic cost of inadequate cybersecurity measures can result in financial losses and damage to businesses.
(23) The economic cost of war includes not only military expenses but also the loss of infrastructure and human lives.
(24) The economic cost of inadequate water management can lead to water scarcity and increased expenses for industries.
(25) The economic cost of cyberattacks includes not only financial losses but also damage to reputation and customer trust.
(26) The economic cost of inadequate waste management can result in environmental damage and increased healthcare expenses.
(27) The economic cost of inadequate education funding can hinder educational outcomes and reduce future economic potential.
(28) Governments are investigating the economic cost of AIDS on society, including lost productivity and healthcare expenses.
(29) The economic cost of inadequate public transportation can result in increased traffic congestion and reduced productivity.
(30) The economic cost of inadequate access to clean energy can result in higher energy expenses and environmental degradation.
(31) The economic cost of inadequate disaster preparedness can result in higher recovery expenses and prolonged economic downturns.
(32) Although accounting cost is important, it does not always reflect the true economic cost of a decision, so managers must consider other factors when making choices.
Economic Cost meaning
Economic cost is a term that refers to the total amount of resources that are used in the production of a good or service. It includes both the explicit costs, such as wages and materials, as well as the implicit costs, such as the opportunity cost of using resources in one way rather than another. When using the term economic cost in a sentence, it is important to provide context and clarity to the reader. Here are some tips for how to use this term effectively:
1. Define the term: Before using the term economic cost, it is important to define it for the reader. This will help ensure that everyone is on the same page and understands what you are referring to.
For example, you could say, "Economic cost refers to the total amount of resources used in the production of a good or service, including both explicit and implicit costs."
2. Use it in a sentence that provides context: When using the term economic cost, it is important to provide context so that the reader understands why it is relevant.
For example, you could say, "The economic cost of producing a new car includes the cost of materials, labor, and the opportunity cost of using those resources to produce something else."
3. Use it in a sentence that compares it to other costs: To help the reader understand the significance of economic cost, it can be helpful to compare it to other types of costs.
For example, you could say, "While the accounting cost of producing a new car may be $20,000, the economic cost may be much higher when you consider the opportunity cost of using those resources to produce something else."
4. Use it in a sentence that highlights its importance: Economic cost is an important concept in economics, so it can be helpful to use it in a sentence that highlights its significance.
For example, you could say, "Understanding the economic cost of production is essential for businesses to make informed decisions about what to produce and how to allocate their resources."
5. Use it in a sentence that shows its application:
Finally, it can be helpful to use the term economic cost in a sentence that shows how it can be applied in real-world situations.
For example, you could say, "By calculating the economic cost of producing different products, a business can determine which products are most profitable and make strategic decisions about their production."
In conclusion, economic cost is a term that is essential to understanding the production of goods and services. By following these tips for using the term effectively in a sentence, you can ensure that your writing is clear, concise, and informative.
The word usage examples above have been gathered from various sources to reflect current and historical usage of the word Economic Cost. They do not represent the opinions of TranslateEN.com.