cost-effectiveness
UK[ˌkɒst ɪˈfektɪvnəs]US[ˌkɔːst ɪˈfektɪvnəs]
n
The degree to which a project, policy, or action provides good value for the amount of money spent.
Morpheme Breakdown
cost
effective
ness
cost
effective
ness
Etymology
The term 'cost-effectiveness' is a modern compound noun, a product of 20th-century managerial and economic discourse. Its first element, 'cost', has a deep history, originating from the Latin verb 'constare', which literally meant 'to stand together' but evolved to signify a fixed price. The second element, 'effective', stems from the Latin 'effectivus', meaning 'productive' or 'accomplishing', derived from the verb 'efficere' (to bring about). The suffix '-ness', of Germanic origin, is one of the most common ways to form abstract nouns in English. The compound's logic is transparently analytical: it names the abstract quality (-ness) of being capable of producing a desired outcome (effective) in relation to the financial expenditure (cost) involved, perfectly capturing the modern principle of evaluating results against monetary input.
Analysis
Structure: cost + effective + ness
- cost: From Latin 'constare' (to stand at, to cost), via Old French 'coster'. In this compound, it functions as a noun meaning the price or expenditure required.
- effective: From Latin 'effectivus' (productive, causative), from 'efficere' (to accomplish). In this compound, it functions as an adjective meaning producing a desired or intended result.
- ness: From Old English '-nes', a suffix forming nouns of state or quality. In this word, it functions as a noun-forming suffix, turning the adjective 'effective' into the abstract noun 'effectiveness'.
Examples
The new software was chosen for its superior cost-effectiveness.
Before approving the budget, the committee demanded a thorough cost-effectiveness analysis.
In healthcare, policymakers must constantly balance quality of care with cost-effectiveness.