Compensation vs Cost - What's the difference?
compensation | cost | Related terms |
The act or principle of compensating.
That which constitutes, or is regarded as, an equivalent; that which makes good the lack or variation of something else; that which compensates for loss or privation; amends; remuneration; recompense.
* Hallam
* Burke
The extinction of debts of which two persons are reciprocally debtors by the credits of which they are reciprocally creditors; the payment of a debt by a credit of equal amount; a set-off.
A recompense or reward for some loss or service.
An equivalent stipulated for in contracts for the sale of real estate, in which it is customary to provide that errors in description, etc., shall not avoid, but shall be the subject of compensation.
The relationship between air temperature outside a building and a calculated target temperature for provision of air or water to contained rooms or spaces for the purpose of efficient heating. In building control systems the compensation curve is defined to a compensator for this purpose.
Manner; way; means; available course; contrivance.
Quality; condition; property; value; worth; a wont or habit; disposition; nature; kind; characteristic.
Amount of money, time, etc. that is required or used.
* {{quote-magazine, date=2013-06-08, volume=407, issue=8839, page=55, magazine=(The Economist)
, title= A negative consequence or loss that occurs or is required to occur.
To incur a charge; to require payment of a price.
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*
*:Thus the red damask curtains which now shut out the fog-laden, drizzling atmosphere of the Marylebone Road, had cost a mere song, and yet they might have been warranted to last another thirty years. A great bargain also had been the excellent Axminster carpet which covered the floor;.
To cause something to be lost; to cause the expenditure or relinquishment of.
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*(William Shakespeare) (c.1564–1616)
*:though it cost me ten nights' watchings
(label) To require to be borne or suffered; to cause.
*(John Milton) (1608-1674)
*:to do him wanton rites, which cost them woe
To calculate or estimate a price.
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(obsolete) A rib; a side.
* Ben Jonson
(heraldry) A cottise.
Compensation is a related term of cost.
As nouns the difference between compensation and cost
is that compensation is the act or principle of compensating while cost is manner; way; means; available course; contrivance or cost can be amount of money, time, etc that is required or used or cost can be (obsolete) a rib; a side.As a verb cost is
to incur a charge; to require payment of a price.compensation
English
(wikipedia compensation)Noun
(en noun)- (Emerson)
- The parliament which dissolved the monastic foundations vouchsafed not a word toward securing the slightest compensation to the dispossessed owners.
- No pecuniary compensation can possibly reward them.
Synonyms
* (act of compensating) restitution * (recompense or reward) restitutionDerived terms
* overcompensationcost
English
Etymology 1
From (etyl) (m), from (etyl) . Cognate with (etyl) (m), (etyl) dialectal . Related to (l).Noun
(en noun)- at all costs (= "by all means")
Derived terms
* (l) * (l)Etymology 2
From (etyl) (m), (m), from , see below.Noun
(wikipedia cost) (en noun)Obama goes troll-hunting, passage=According to this saga of intellectual-property misanthropy, these creatures [patent trolls] roam the business world, buying up patents and then using them to demand extravagant payouts from companies they accuse of infringing them. Often, their victims pay up rather than face the costs of a legal battle.}}
Derived terms
{{der3, appraisal cost , at cost , carbon cost , cost and freight , cost avoidance , cost-benefit , cost benefit analysis , cost center , cost control , cost cutting , cost-effective , cost-efficient , cost function , costless , costly , cost objective , cost of business, cost of doing business, cost of sales , cost of living , cost of money , cost overrun , cost per avalable seat mile , cost price , cost-push , design to cost , flotation cost , landed cost , low-cost , marginal cost , opportunity cost , private cost , sunk cost , unexpired cost , unit cost , variable cost}}Etymology 3
From (etyl) (m), from (etyl) (m), .Verb
See Usage notes.Usage notes
The past tense and past participle is cost'' in the sense of "this computer cost''' me £600", but ''costed'' in the sense of 'calculated', "the project was ' costed at $1 million."Derived terms
* cost an arm and a leg * cost a pretty penny * cost the earth * how much does it costEtymology 4
Noun
(en noun)- betwixt the costs of a ship