What Does Total Cost Mean In Business Terms. A cost is an expenditure required to produce or sell a product or get an asset ready for normal use. In economics, total cost is made up of variable.
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Information and translations of total cost in the most comprehensive. Total cost of ownership (tco) is the purchase price of an asset plus the costs of operation. definition of total cost in the definitions.net dictionary.
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total cost = $10,000 + $5 * $2,000. The amount of money or property paid for a good or service. the net cost is less than the gross cost, which is when the benefits do not entirely offset the gross cost; The total cost formula works by allocating all the costs of doing business to the goods or services for sale.
