Affordability Meaning: Definition, Examples, and Translations
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affordability
[ษหfษหrdษหbษชlษti ]
Definitions
financial
The quality of being affordable; the extent to which something is within the financial means of a person or company.
Synonyms
accessibility, economicalness, reasonableness.
Which Synonym Should You Choose?
Word | Description / Examples |
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affordability |
Used when referring to how easy it is to purchase or pay for something, especially within one's budget.
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accessibility |
Used when talking about how easy it is to reach, enter, or use something, often related to services, facilities, or information.
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reasonableness |
Used to describe something as being within the limits of what is fair or sensible, often regarding price, demands, or conditions.
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economicalness |
Refers to how economical or cost-effective something is. It is not commonly used in everyday language and might sound technical or formal.
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Examples of usage
- The affordability of housing in the city is a major concern for many residents.
- The company's success is partially attributed to the affordability of its products.
economic
The ability to be purchased or paid for; the financial resources available for a purchase.
Synonyms
attainability, feasibility, manageability.
Which Synonym Should You Choose?
Word | Description / Examples |
---|---|
affordability |
Used when discussing whether something is within someone's financial means. It often relates to the cost and economic accessibility of goods or services.
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attainability |
Best used when talking about whether something can be achieved or reached, often considering effort, resources, and limitations beyond just financial aspects.
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manageability |
Relates to how easily something can be controlled, handled, or managed. This term often applies to tasks, responsibilities, situations, and sometimes in the context of handling emotions or stress.
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feasibility |
Refers to whether a plan, idea, or project is practical and possible to implement. It considers aspects such as practicality, ease of implementation, and potential obstacles.
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Examples of usage
- The affordability of healthcare is a critical issue in many countries.
- The government aims to improve the affordability of education for all citizens.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Economics
- Affordability affects housing markets, impacting where people choose to live and how communities develop.
- In economic terms, affordability is often assessed using the ratio of housing costs to income.
- Policies aimed at increasing affordability can include subsidies or tax incentives to help lower-income families.
Psychology
- Perceived affordability can influence consumer behavior, leading to decisions on spending and saving.
- People's sense of affordability often relates to their financial security and overall well-being.
- Research shows that feelings of affordability can impact stress levels and life satisfaction.
Pop Culture
- Reality TV shows often highlight affordability in home buying, showing how individuals navigate budgeting.
- Social media platforms are flooded with influencers discussing budget-friendly options, emphasizing lifestyle choices on a budget.
- The concept plays a huge role in discussions about fashion, with trends often dictating perception versus actual affordability.
Education
- The rising cost of college education has sparked dialogue on student debt and the affordability of higher education.
- Many educational policies now stress affordability, aiming to ensure that all students can access learning opportunities.
- Scholarships and grants are created specifically to enhance affordability for students from various backgrounds.
Origin of 'affordability'
Main points about word origin
- The word comes from the Middle English 'aford,' meaning to provide or to be able to do something.
- It combines 'afford' with the suffix '-ability,' which means having the quality of.
- The concept of affordability has evolved as economies change, particularly during economic downturns.
The word 'affordability' originated in the late 18th century, derived from the verb 'afford', meaning 'to have enough money to pay for'. It gained popularity in the context of financial and economic discussions, highlighting the importance of accessibility and feasibility in relation to costs and resources.
See also: affordable, affordably, unaffordable.
Word Frequency Rank
Positioned at #23,765, this word is part of extensive vocabulary. It's relatively rare in general usage but may be important in specific fields or formal writing.
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- 23762 prosody
- 23763 eschew
- 23764 dyslexia
- 23765 affordability
- 23766 irreplaceable
- 23767 vociferous
- 23768 circumspection
- ...