Cost Vs. Price

Posted 09:40 by Sailaja Prakash in Labels:
Many people use the term 'Cost' for 'Price'. The meaning is different for these two words.

Cost = The total amount ("Money" + "Time" + "labour") spent to make or manufacture the goods and services. But it does not include profit.


Price = Cost + Profit.

This is what I remember when I was doing my MBA.

In the similar way, there is a difference between 'Buy' and 'Purchase' too. But I forgot the difference. Can anyone of you help me in this respect?

3 comment(s) to... “Cost Vs. Price”


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