What is amortized cost?

I hear this "armortized" cost stuff everywhere, for example, amortized cost of BST search or amortized cost of bubble sort. What does amortized mean? my teach don't explain it well.
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so amortized cost is basically the average cost? or am i understand that wrong?
No, it is a method of rating the "cost" (time and space) used by an algorithm.

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