- verb to give a price to a product
- The amount of money asked or given for a product (e.g., exchange value). The chief function of price is rationing the existing supply among prospective buyers.
- noun an amount of money which has to be paid to buy something
- verb to ask an amount of money for something for sale
- The monetary worth of a currency, commodity or other financial asset or contract. In the forex market, price is typically considered the rate of exchange between the two currencies in a currency pair expressed as the amount of the counter currency that can be used to purchase one unit of the base currency.
Information & Library Science
- noun the amount of money needed to buy an item
Origin & History of “price”
The Latin word for ‘price’ was pretium (it was probably derived ultimately from the Indo-European preposition *preti ‘back’, and so etymologically denoted ‘recompense’). Its descendants have spread through most modern western European languages, including French prix, Italian prezzo, Spanish precio, German preis, and Dutch prijs. The last two were borrowed from Old French pris, the ancestor of modern prix, as was English price. The word differentiated in the 16th century into price and prize; and derivatives of the Latin original have given English appreciate, depreciate (15th c.), praise, and precious.