Price
/praɪs/
Definitions
2 meaningsThe monetary value of a good or service.
/praɪs/
The amount of money expected, required, or given in payment for something.
The price of gasoline has increased dramatically.
💡 Simply: It's how much something costs! Like, if you go to the store and a toy says it has a price of $10, that's how much you need to pay to buy it.
👶 For kids: The price is how much something costs. Like if you want a candy bar, you have to pay the price!
More Examples
What's the price of that painting?
We agreed on a fair price for the car.
How It's Used
"The price of the new iPhone is very high."
"Check the price tag for the item."
"Inflation caused a rise in prices."
To determine the monetary value of a product or service.
/praɪs/
To set or establish the price of something.
The manufacturer priced the product competitively.
💡 Simply: To decide how much something should cost. Like, if you're selling lemonade, you need to price it, so people know how much to pay.
👶 For kids: Pricing means to decide how much money to ask for something you're selling.
More Examples
They priced the house too high and didn't get any offers.
We need to carefully price our services.
How It's Used
"The company priced the new software at $99."
"The store manager priced the merchandise."
"They priced the deal too high, and the customer walked away."
Idioms & expressions
at a price
At the cost or consequence of something.
"The company achieved its success, but at a price - many employees were overworked."
pay the price
To suffer the consequences of something.
"He paid the price for his arrogance."
the price is right
Used when something is a bargain or is sold for a good price
"The price of the car is right, so I will buy it."
From Old French *pris*, from Latin *pretium* 'value, worth'.
The word 'price' has existed since the 13th century, evolving from Latin's 'pretium' which referred to the 'value' or 'worth' of something.
Memory tip
Think of the 'ice' - something valuable that has a 'price' associated with it.
Word Origin
"value, worth"