Cost or costs?

In the metal and mining sector, companies are facing significant problems (Hopwood, 2018). For example, they face increasing production cost due to the rapid development of new mining technologies.

Like much basic vocabulary in the field of economics, cost is a difficult word! First of all this is one of those words that can be countable and uncountable, and secondly there are some usage peculiarities with each. Continue reading

Fund, funds and funding

The use of government fund to give free higher education impacts negatively on economic development.

Here we have to ask ourselves: Is the money meant for a single, specific purpose or is it for general use?

The money that people carry around in their wallets or have in their bank accounts is used to buy all kinds of things and pay for all kinds of services. If this money is not intended for any single, specific purpose, then we can refer to it as funds (plural).

Sometimes, however, a sum of money is set aside for a particular purpose, and this ‘specific-purpose money’ is referred to as a fund (singular), and it is usually possible to imagine a name for the fund: “The Social Welfare Fund.” Often it is money organised by a particularly wealthy person, a group of people who have money, or an institution.

Let’s take a look at some examples. Continue reading