Definition, Meaning & Synonyms
cost-efficient
adjective
/ˈkɔːst ɪˈfɪʃənt/
Definition
Cost-efficient refers to a solution or method that delivers the desired results with the least amount of expenditure.
Examples
- Investing in energy-saving appliances is a cost-efficient way to reduce electricity bills.
- The company’s new production technique is highly cost-efficient, helping them save money.
- Finding a cost-efficient solution to transportation can lead to significant savings.
Meaning
It implies achieving maximum output or benefits while minimizing expenses.
Synonyms
- Economical
- Budget-friendly
- Affordable
- Cost-effective
- Pennywise
