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The main difference between the two is the way to measure it in..Real cost is measured in its total/overall quantity for example if i am to build a chair..the 'real cost' chair is = "quantity/amount" of wood, nails, hammer, super glue etc . + my labour charges. according to an economist Alfred marshall, real cost should also include the the time utilized, the troubles taken, the pollution generated etc. it is an abstract concept and so is not an easy or precise way to measure cost.
Wiki User
∙ 9y ago
Wiki User
∙ 13y agoThe amount of payment paid to the factors of production in terms of current monetary units is known as money cost
And in the same way payment paid to the factors of production in terms of amount of product is known as real cost.
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Is real cost and money cost is similar?
Real cost and money cost is not similar.Real costs are actually much broader in scope and cover all the aspects of sacrifice involved in acquiring a product.
What is the meaning of real money in economics?
wha tis the real money
What is the difference between constant opportunity cost and increasing opportunity cost?
Real cost is the price which is real not a fake price
What is real cost and opportunity cost?
lots
Opportunity cost of holding money?
The opportunity cost of holding money is the nominal interest rate.
Does www.digiturf.com cost real mmoney?
Yes it does cost real money to play, but you can win money there... similar to like it is on any poker site.
Is real cost and money cost is similar?
Real cost and money cost is not similar.Real costs are actually much broader in scope and cover all the aspects of sacrifice involved in acquiring a product.
What do you mean by Money cost and Real cost?
Money cost refers to actually dollar amount, whereas Real cost takes into account the efforts involved in making a product, such as physical or mental effort.
Difference between real cost and money cost in about 300 words?
what is the difference?
Does verifying your account in Adventure Quest Worlds cost real money?
No, as if it would cost real world money it would have already asked you for a credit card or paypal.
How much did the Biltmore Castle cost for real?
How much did the Baltimore Castle cost in money?,
How much money does it cost to get a M3DS real?
It costs $80.
Is Star Wars galxies free?
No its real and cost money
Does zwinky cost any money?
Zwinky doesn't cost money but certain things do. If you run out of or want some of the fake money on there you use real money to get the fake money xD
Does the eshop cost real money?
Yes, Nintendo eShop uses 'real' money so $1 = 1 eShop dollar.
Does Foo pets cost real money to join?
No. but it costs real money to adopt more than one pet. Hope this helps!
Are there any membership packages for runescape?
Of course.... but they cost real money
