raunakostnað
Raunakostnaður is an Icelandic term used in economics and accounting to describe the real or true cost of a good, project, or decision. It is the economic cost that arises when direct expenses are combined with indirect factors such as maintenance, overhead, opportunity costs, and, in some contexts, environmental or social effects. The concept is typically contrasted with nominal or accounting costs, which may not reflect changes in purchasing power or broader welfare implications.
In practice, raunakostnaður aims to capture the costs that matter for decision making. This often means adjusting
Applications of raunakostnaður occur in cost-benefit analyses, project appraisal, budgeting, and policy evaluation. By presenting costs