Definition, Meaning & Synonyms
affordability
Noun
/əˌfɔːrdəˈbɪlɪti/
Definition
Affordability refers to the state or condition of being inexpensive enough to be purchased or acquired without undue financial burden.
Examples
- The affordability of housing in urban areas has become a critical issue.
- Many families struggle with the affordability of healthcare services.
Meaning
It indicates how easily a product or service can be obtained by someone considering their financial situation.
Synonyms
- Accessibility
- Economy
- Cost-effectiveness
