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What is affordability?

What is affordability? Here are some definitions.

Noun
  1. The extent to which something is affordable, as measured by its cost relative to the amount that the purchaser is able to pay.
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Examples
All franchise bids are judged on their affordability, deliverability and their value for money for passengers and the taxpayer.
The demand for the dismantling of price controls could impact the affordability of medicines.
They manufacture the best wood molding in the world without sacrificing affordability.
The availability and affordability of the research product to the concerned communities should be examined.
The affordability reports are now using the floating rate as most new mortgages are now floating rather than fixed.
Labor is set to intensify attacks on housing affordability if interest rates go up on Wednesday.

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