Cost

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Revision as of 01:12, 13 January 2008 by Ownut (talk | contribs) (Cost = Price - Profit)
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See also:

  1. Transaction Costs; Mental Transaction Costs; Transaction Costs Theory
  2. Coordination Costs

Discussion

User Owned theory defines Cost from the User's point of view as the Prices of production paid by Owners during the previous round of production.

Cost = Price - Profit

Some costs include: Access, Exclusion, Investment, Insurance, Installation, Maintenance, Operation, Pollution, Security, Storage, Wages.

Contrast this with the Price paid by consumers and Profit as the difference between the two.