AFFORDABLE Meaning and
Definition
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Affordable (adjective) refers to something that is within reasonable or easily manageable financial means. It describes an item, service, or expense that can be obtained or afforded by an individual or group without causing significant financial strain or hardship.
When something is deemed affordable, it implies that the cost or price attached to it is suitable and attainable for the target audience. The affordability of an item is typically determined by weighing its price against the purchasing power or income level of the individual or demographic it is intended for. Accessibility and affordability are closely related concepts as both pertain to the ability to obtain something without undue difficulty.
The affordability of a product or service can vary across different contexts, regions, and individuals due to factors such as personal income, cost of living, economic conditions, and lifestyle choices. What may be affordable for one person or community may not be for another, emphasizing the subjective nature of affordability.
Affordability is a key consideration in various sectors, including housing, healthcare, education, transportation, and consumer goods. Government policies and programs often aim to enhance affordability in sectors critical to citizens' well-being.
In summary, affordable means that something is reasonably priced or financially manageable, allowing individuals or groups to acquire it without significant economic burden, taking into account their income, location, and economic circumstances.
Top Common Misspellings for AFFORDABLE *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for AFFORDABLE
Etymology of AFFORDABLE
The word affordable is derived from the verb afford, which comes from the Old English word gefordan meaning to supply, to provide. The Old English word itself is a combination of the prefix ge- (meaning together, completely) and the word faran (meaning to travel, to go). Over time, afford came to mean to be able to pay for or to have enough means to obtain. The addition of the suffix -able created the adjective form affordable, which means able to be afforded or within one's financial means.
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