benefit-cost
UK[ˈben.ɪ.fɪt kɒst]US[ˈben.ə.fɪt kɔːst]
n
An analysis that compares the benefits of an action or project to its costs, used to evaluate its economic efficiency or desirability.
Morpheme Breakdown
benefit
cost
benefit
cost
Etymology
The compound noun "benefit-cost" is a modern analytical term formed by combining two established English words of Latin origin. "Benefit" originates from the Latin bene facere, meaning "to do good," and evolved to signify an advantage or profit. "Cost" derives from the Latin constare, meaning "to stand firm" or "to be settled at a price," coming to represent the expense or sacrifice required. The hyphenated pairing formalizes a comparative framework, literally "advantage versus expense," used in economics and policy to quantify and weigh the positive returns of an endeavor against its financial or resource expenditures.
Analysis
Structure: benefit + cost
- benefit: From Latin benefactum (a good deed), via Old French bienfait. In this compound, it functions as the nominal element representing the positive outcome or advantage.
- cost: From Latin constare (to stand at, to cost), via Old French cost. In this compound, it functions as the nominal element representing the expenditure or negative outlay.
Examples
A rigorous benefit-cost analysis is required before approving the new infrastructure project.
The proposed regulation failed the benefit-cost test, as the estimated compliance costs far outweighed the social benefits.
Critics argued that the study's benefit-cost ratio did not adequately account for long-term environmental impacts.