monetary cost definition
The amount of liquid funds that a product or service costs a consumer to buy. The monetary price of a good might include the cash needed to purchase it, the time and expenses involved in shopping for it, and the risk taken in spending money to receive the anticipated benefit from the good's features.he monetary price of a good might include the cash needed to purchase it, the time and expenses involved in shopping for it, and the risk taken in spending money to receive the anticipated benefit from the good's features.