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Meaning / Definition of

Cost-effective

Categories: Banking, Operation and Production,

offering the maximum benefit for a given level of expenditure. When limited resources are available to meet specific objectives, the cost-effective solution is the best that can be achieved for that level of expenditure and the one that provides good value for money. The term is also used to refer to a level of expenditure that is perceived to be commercially viable.

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Categories: Insurance,

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