Kostnaðargrunduð
Kostnaðargrunduð is an Icelandic term that translates to "cost-based" or "cost-driven" in English. It is commonly used in economic and business contexts to describe an approach or decision-making process where the primary consideration is the cost involved. This can apply to pricing strategies, project planning, resource allocation, or any situation where financial expenditure is the dominant factor in determining a course of action.
In a cost-based pricing model, the price of a product or service is determined by adding a
The concept of kostnaðargrunduð is fundamental to understanding financial management and operational efficiency. While focusing on