Final answer:
The method that considers a comprehensive approach to estimating building costs, including labor, material, overhead, and profit, is known as cost estimation.
Step-by-step explanation:
The method that considers a comprehensive approach to estimating building costs, including labor, material, overhead, and profit, is known as cost estimation in the field of business. This method involves analyzing the various cost components involved in a building project and calculating an overall estimate based on factors such as labor rates, material prices, and projected overhead expenses. It helps businesses determine the total cost of a project, manage their resources effectively, and make informed decisions.