Costed Meaning: Definition, Examples, and Translations
๐ฐ
costed
[หkษหstษชd ]
Definition
past tense
The word 'costed' is the past tense of the verb 'cost', which refers to determining the amount of money required to buy or pay for something. It is commonly used in business contexts when discussing budgets or financial planning. While 'cost' is more frequently used in everyday language, 'costed' is used when referring explicitly to the act of estimating costs.
Synonyms
Examples of usage
- The project was costed at $50,000.
- She costed the materials needed for the renovation.
- The budget was carefully costed before the meeting.
- He costed out the entire event to ensure profitability.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Economics
- In economics, determining what something 'costed' helps in making budget decisions.
- The concept of opportunity cost introduces another layer, where the cost reflects what you give up when choosing one option over another.
- Cost analysis is critical in business, where companies strategize around pricing to maximize profit.
Pop Culture
- In various television shows and movies, characters often debate the 'cost' of choices, bringing emotional weight to financial decisions.
- The phrase 'what it costed me' has become a relatable expression on social media, highlighting personal sacrifices for purchases.
- Many popular songs reference the price of love or life experiences, paralleling the idea of emotional costs alongside monetary ones.
Psychology
- Psychological pricing strategies often focus on how consumers perceive costs and value, influencing buying behavior.
- Behavioral economics studies show that people may feel more regret over money spent than time lost, emphasizing how costs weigh heavily on decisions.
- The 'sunk cost fallacy' refers to the tendency to continue an endeavor after investing time or money, often based on what has already been 'costed.'
Origin of 'costed'
Main points about word origin
- The word 'cost' comes from the Latin 'costare,' meaning 'to stand out or be of a particular value.'
- In Old French, 'coster' reflected the idea of determining the price of goods.
- The use of 'costed' as a verb form is a more modern adaptation in English to indicate the process of pricing.
The verb 'cost' originates from the Old French word 'coster', which is derived from the Latin 'constare', meaning 'to stand firm' or 'to cost' as in 'to be worth'. The transition to the modern form occurred during the 14th century when the term began to appear in various financial contexts. The use of 'costed' as the past tense began to gain traction alongside the established forms of the verb in English. Over time, 'costed' has found a niche in financial discussions and business jargon, specifically in project management and financial analysis, where determining the expenditure of goods and services is crucial. The formalisation of budgeting processes in the corporate world contributed to the specific use of 'costed' to describe the action of calculating total costs in detail, cementing its place in modern vocabulary.