The definition of cost-effectiveness is Value for money stuff where the benefits and use are at least worth what you pay for them. A cost-effective example is the use of VOIP for long distance phone calls. Economical in terms of the goods or services obtained for the money spent.

What does cost-effective mean?

: Gives good results without spending a lot of money Cost-effective measures for poverty alleviation Robot spot welding can be quite cost-effective…

What does more cost-effective mean?

adjective.what is that cost–Effective and cost involved.

What is the synonym of cost-effective?

synonym for value for money

Compare synonyms. actual. profitable. worth.

What does not worth it mean?

Offers good value for the amount paid: If there are only three people working here, it is not cost-effective to heat the whole building.

What is a cost benefit analysis? What does cost benefit analysis mean?

25 related questions found

How to say value for money in a sentence?

good value for money example sentences

1. Nut milk can cost a fortune at the store, but making your own couldn’t be easier and more affordable. …
2. Homemade baby toys are not only cost-effective, but a great way to use recycled materials.

Why is cost-effectiveness important?

Cost benefit analysis helps Identify ways to redirect resources to achieve more. It demonstrates the utility of not only allocating resources from ineffective to effective interventions, but also from less cost-effective interventions to more cost-effective interventions.

Which connection method is the most cost-effective?

Which connection method is the most cost-effective?Explanation: Advantages tandem It’s that they share the mains voltage so cheap low voltage appliances can be used.

Which method of communication is the most cost-effective?

oral communication Making the communication of ideas faster and easier is the most successful form of communication. However, it accounts for only 7% of all human communication.

How do you determine cost-effectiveness?

The cost-benefit ratio is Net cost divided by change in health outcomes. Examples include cost per case of disease prevention or cost per death avoided. However, if the net cost is negative (meaning a more effective intervention costs less), the result will be reported as a net cost savings.

Are there any cost-effective services?

Cost Effective Service Excellence (CESE) is defined as Achieving low unit cost (i.e. high productivity) At the same time, it provides an industry-leading level of service quality (ie, excellent service).

What does it mean to provide cost-effective care?

What is cost-effective care?Healthcare providers are increasingly adopting cost-effective care strategies, which Focus on controlling costs associated with different treatment methods and institutional operations without compromising the quality of patient care.

Is it worth it?

1a: Lack of excellence or value: poor, no value. b : vile, disgraceful. 2: no credit: not worth it unworthy s concern. 3: Unworthy: Unworthy of unworthy treatment.

How do you say it’s not a good idea?

5 Constructive Ways to Say You Think Something is a Bad Idea

1. Confess some good things before you move on to solving the problem. …
2. Ask for more details. …
3. Seek other opinions. …
4. Put it on the idea, not the person. …
5. Give a reason the other party can understand.

How would you say value for money?

value for money

1. Competitive.
2. economy.
3. low cost.
4. low price.
5. reasonable.
6. Cheap goods.
7. budget.
8. Buy.

What is a better word?

other good words

1 pure, moral, dutiful; meritorious, honorable, exemplary, upright. 2 is enough. 3 outstanding, admirable.

How would you describe worth it?

pleasant or useful Although you have to work hard: the climb to the top is a long way, but the view from the top is worth it.

What is the difference between cost-effectiveness and cost-effectiveness?

What is the difference between cost benefit analysis and cost benefit analysis? …while cost-benefit analysis asks whether the economic benefits outweigh the economic costs of a given policy, cost-benefit analysis focuses on The question of how much it costs to obtain a certain amount of output from the policy.

Does higher efficiency always cost more money?

Another number used to measure value — the cost-benefit ratio — is the net increase in health care costs compared to standard care divided by the net benefit of health. Effects and costs are always comparedbecause one treatment or procedure is always compared to another.

Why is cost effectiveness important in business?

To be successful, any Businesses need to make more money than they spend. . A cost-effective approach helps business managers meet their business needs at the lowest possible cost. The challenge is to get quality materials, staff and facilities without spending too much and compromising profit margins.

Cost-effective in one word?

When compound phrases are not immediately followed by a noun, do not hyphenate them.this show cost effective. (Cost-effective without a hyphen, because there is no noun after it.)