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The Economic Content, Typology and Size of Costs. Minimizing Costs


  • Mihaela Nicoara

    () ("Dimitrie Cantemir" Christian University)


The economic management requires strictly measuring the costs, as a starting point in calculating the selling price, in choosing the best production alternative, in substantiating the resource consumption. Any entity will seek to maximize profits and minimize costs. Not in all circumstances does an increase in the size of the companies reduces costs and achieves savings. It all depends on the efficiency evolution of the used inputs. The economic entity may use the following ways to reduce production costs: laying in prod factors at the lowest price possible, reducing stocks, reducing specific raw materials consumption, reducing operation costs and improving the equipment’s usage degree etc.

Suggested Citation

  • Mihaela Nicoara, 2013. "The Economic Content, Typology and Size of Costs. Minimizing Costs," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 5(3), pages 123-126, September.
  • Handle: RePEc:khe:journl:v:5:y:2013:i:3:p:123-126

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    References listed on IDEAS

    1. Walz, Uwe & Wellisch, Dietmar, 1997. "Is free trade in the interest of exporting countries when there is ecological dumping?," Journal of Public Economics, Elsevier, vol. 66(2), pages 275-291, November.
    2. Rauscher, Michael, 2001. "International trade, foreign investment, and the environment," Thuenen-Series of Applied Economic Theory 29, University of Rostock, Institute of Economics.
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    More about this item


    Production cost; explicit cost; implicit cost; fixed cost variable cost; total cost;

    JEL classification:

    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General


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