Definition of «true cost»

The true cost is an expression used to describe the full extent of the impact that a product or service has on society and the environment, taking into account all costs involved in its production, distribution, use, and disposal. This includes not only direct costs such as labor, materials, and overhead but also indirect costs like environmental damage, health consequences, and social injustices. The true cost is an important concept to consider when making purchasing decisions or evaluating the sustainability of a product or business practice because it provides a more comprehensive understanding of the overall impact of our actions on people and planet.

Phrases with «true cost»

Sentences with «true cost»

  • As you will see understanding the «true cost of borrowing» is essential when looking at different financing options. (biggerpockets.com)
  • Between the hidden fees, overlooked costs and simple misconceptions about true costs, borrowing money is a good place to look for ways to save money. (entrepreneur.com)
  • Market values rose significantly during the period, but economists know the only true costs are opportunity costs, and the opportunity cost of not buying a home was extremely high in 2005. (investopedia.com)
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