Cost Once Meant What Something Stood At
Cost is the price of something. The Latin verb behind it means to stand together.
Cost is the amount that must be paid or given up to obtain something. Latin *constare* meant to stand together or stand firm, and by extension to be fixed at a price — what a thing *stands at*. English still uses the same image in *how much does it stand you in*, an old phrase for what something cost. Economists distinguish *opportunity cost*, the value of what you gave up by choosing one thing over another, which is often the larger figure.
- A price. *The cost of living.*
- To require payment. *It costs ten pounds.*
- A sacrifice. *At great cost.*
- Opportunity cost. *Opportunity cost.*
- Latin — *constare*, to stand firm. *The root.*
Word forms
| Form | Word | Example |
|---|---|---|
| Noun | cost | The cost. |
| Plural | costs | Costs. |
| Verb | cost | It costs. |
| Adjective | costly | Costly. |
| Latin | constare | To stand firm. |
- The cost rose sharply.Price.
- It cost him his job.Sacrifice.
- Constare means to stand firm.Etymology.
Kinds of cost
- Fixed cost — does not change with output
- Variable cost — rises and falls with output
- Sunk cost — already spent and unrecoverable
- Opportunity cost — the value of the option you did not take
- Marginal cost — the cost of producing one more unit
Old French *coster*, from Latin *constare*, to stand firm or stand at a price.
How does standing firm give us cost?
Latin constare meant to stand at a price. English kept the image in the old phrase asking what a thing stands you in.
What is opportunity cost?
The value of the best alternative you gave up by making a choice, which is often larger than the money spent.