cost-effectiveness

noun

UK /ˌkɒst ɪˈfek.tɪv.nəs/

US /ˌkɔːst ɪˈfek.tɪv.nəs/

Cost-effectiveness means getting good results without spending too much money.

The school chose the new reading program for its cost-effectiveness.

SYNONYMS

efficiency value for money economy profitability

RELATED WORDS

budget savings expense value affordability

OTHER MEANINGS

2. The quality of being worth the money spent on something.

The manager questioned the cost-effectiveness of the expensive new machine.

3. A way of comparing options by how much they cost compared to what they achieve.

Doctors studied the cost-effectiveness of the two treatments.

4. The state of producing a desired result at a low price.

Solar panels are praised for their cost-effectiveness over time.