The correct answer is: Cost.
Cost is the value of economic resources used as a result of producing or doing the thing costed. It is measured in monetary terms and can be classified into direct costs and indirect costs. Direct costs are those that can be easily traced to a specific product or service, such as the cost of materials and labor. Indirect costs are those that cannot be easily traced to a specific product or service, such as the cost of rent and utilities.
Inventory is a company’s stock of goods that are held for sale or use in production. It includes raw materials, work in progress, and finished goods. Labour is the physical and mental effort that people use to produce goods and services. Overhead is a general term for all the costs of running a business that are not directly related to the production of goods or services.
Here is a table that summarizes the key differences between cost, inventory, labour, and overhead:
| Cost | Inventory | Labour | Overhead |
|—|—|—|—|
| The value of economic resources used as a result of producing or doing the thing costed. | A company’s stock of goods that are held for sale or use in production. | The physical and mental effort that people use to produce goods and services. | A general term for all the costs of running a business that are not directly related to the production of goods or services. |