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In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. In this case, money is the input that is gone in order to acquire the thing. This acquisition cost may be the sum of the cost of production as incurred by the original producer, and further costs of transaction as incurred by the acquirer over and above the price paid to the producer. Usually, the price also includes a mark-up for profit over the cost of production.
More generalized in the field of economics, cost is a metric that is totaling up as a result of a process or as a differential for the result of a decision. Hence cost is the metric used in the standard modeling paradigm applied to economic processes.
Costs (pl.) are often further described based on their timing or their applicability.

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  1. S

    WA Costs/Disbursements for self represented

    Hi I am currently in the District Court as a self represented plaintiff to a civil matter. Whilst self represented I still from time to time take paid legal advice on matters of procedure and to check that my pleadings are coherent and fit for purpose/procedure etc, mostly I will make...
  2. M


    Our client’s reserves its rights including to tender this letter on any issue as to costs. I wrote an email to an organisation who I believe owes me costs. They employed a lawyer to email me an arguement. I wrote back. The lawyers said that I have no case, and the above line about costs...
  3. C

    NSW Excessive costs

    We had a contractor look at a retaining wall that was in a poor state on our property. Anyway he organized an engineer to inspect and make a report. We didn’t think anything of it as it’s standard practice. The engineer arrived checked it out and 6 weeks later a report arrived in our inbox...
  4. DerekPi

    QLD Body Corporate Seeking Legal Costs - Late Payment

    Hi All, I am in QLD and have an apartment for investment here. I forgot to pay my body corporate contribution fees. There were definitely no reminders sent to me. Exactly 1 month later, the body corporate issued me with an invoice of $2000 to pay for recovery costs as they instructed a lawyer...
  5. D

    VIC Class Action - Litigation Costs

    I've been contacted by a law firm regarding a class action against a financial services firm. Apparently I'm already included in the class action. My question is, if I don't Opt-out will I be liable for the legal costs if the class action fails?
  6. D

    VIC Retaining Wall dispute and costs

    our neighbour on the vacant lot next door on the low side, had their site cut right on the boundary line. The cut is 1.5meters deep. The neighbour was intending to build, so they had their site cut and excavated. My build is nearing completion and due to their site cut we cannot even erect a...
  7. R

    Security for costs

    Hi there, Does anyone know of any recent Full Court cases in relation to Part 12.2 ‘Security for Costs’ of the Federal Circuit and Family Court of Australia (Family Law) Rules 2021? Just wondering if there are any relevant recent cases or what the process is (what the court usually does).
  8. P

    NSW Court costs and AVOs

    A friend has been slapped with an AVO by the police unfairly. He wants to oppose the AVO in court. There’s good evidence to support him. If he hires a barrister and wins, can he apply to the court for the costs of his legal representation to be paid for by the police/state? If so, what’s the...
  9. J

    NSW Solicitors and Costs

    Paid solicitor to amend claim by certain court ordered date as agreed Solicitor failed to provide amendments by that date. Relationship broke down because he failed to perform duties as agreed. I then filed claim a week late. Voided by court registry as out of time. Directions in coming week...
  10. J

    NSW What happens if the defendant gets security of costs and the plaintiff cannot afford to pay, resulting in dismissal?

    What happens if the defendant gets 'security of costs' and the plaintiff cannot afford to pay, resulting in dismissal of proceedings? Will the defendant get a costs order or will there be no order as to costs?