Asphalt is cheaper than concrete because asphalt is a less expensive material to produce and install. Concrete is made from cement, aggregate (usually sand and gravel), and water. Cement is a mineral product that requires a lot of energy to produce. Aggregate can be sourced locally, but transporting the sand and gravel to the cement plant increases the cost of making concrete. Installing concrete also requires more time and labour than installing asphalt.

It depends on the project. For smaller projects, asphalt may be cheaper, but for larger projects, concrete may be a better option due to the higher upfront cost of asphalt. Additionally, asphalt can be more prone to cracking and needs to be resealed more often than concrete.