The official business definition of Cost Affective or Cost Effective is a measure of the relative efficiency of a product or service. It is a measure of the cost-benefit ratio of a particular product or service, which takes into account the cost of production, the cost of delivery, and the value of the product or service to the customer. Cost Affective or Cost Effective measures the effectiveness of a product or service in terms of its ability to generate revenue, or to reduce costs. It is important to note that cost effectiveness does not necessarily mean the lowest cost, but rather the most efficient use of resources. Cost effectiveness is a key factor in determining the success of a business, as it helps to identify the most cost-effective solutions to a problem. Cost effectiveness is also important in determining the success of a business strategy, as it helps to identify the most cost-effective ways to achieve the desired objectives.