Cost: meaning, definitions and examples

Used when talking about the amount of money required to obtain something. Often used in a general sense or when discussing economic aspects.

• The cost of living in the city is very high.
• What's the cost of this project?

Refers to the specific amount of money asked for or paid for a product or service. It is often used in commercial transactions and can also denote value.

• The price of this smartphone is $300.
• They offered a fair price for the furniture.

Used when referring to the money spent on something, often in a cumulative sense or in accounting contexts. It can also imply an undesirable or burdensome cost.

• Her travel expenses were reimbursed by the company.
• Running a car can be a significant expense.

Used when someone is required to pay for a service or a product. Often pertains to fees or prices set by businesses or professionals.

• The hotel charges $100 per night.
• They charge a fee for late payments.

Typically used to describe the amount of money required to obtain something. It is often used when talking about expenses or expenditures.

• The cost of living in this city is very high.
• We need to consider the cost of production before setting the final price.

Refers to the amount of money expected, required, or given in payment for something. It is often used in the context of buying or selling goods and services.

• What is the price of this laptop?
• The price of gasoline has increased dramatically over the past month.

Commonly used to refer to a specific amount of money demanded for a particular service or commodity. It often implies a set or fixed amount.

• The hotel charges a fee for internet access.
• You will be charged a penalty for returning the book late.

Usually refers to a payment made for professional services or for a privilege. Often associated with formal services such as legal, educational, or administrative services.

• There's a registration fee for attending the conference.
• The lawyer's fee was quite reasonable considering the complexity of the case.