What does price mean?
The noun price means the amount of money that must be paid for a product, service, or other item. It can also refer more broadly to value, cost, or the consequences of making a choice, as in the phrase "the price of success." In financial contexts, price may mean the amount at which a commodity, security, or service is traded or offered. As a verb, price means to assign or determine a monetary value, and it is especially common in business, retail, and financial discussion. The word is used in both British and American English and can appear in formal writing as well as everyday speech. Common expressions include "price of living," "price increase," and "price tag." Its related forms include priced, pricing, priceless, and pricey, reflecting the word’s broad connection with monetary value, expense, and perceived worth.
The amount of money charged for something; also, more generally, the cost or value associated with it.
"The price of food has continued to rise this year."
Can be countable when referring to an individual amount, as in "a high price," and uncountable in expressions such as "the price of living."
To assign or determine the price of a product, service, security, or other item.
"The retailer priced the new model below the previous version."
Common in commercial, retail, and financial contexts; it can also be used figuratively, as in "to price someone out of the market."
The plural prices is used for individual prices or price levels. The singular price is common in abstract expressions such as "the price of living" and "at what price."
"The shop compared prices before buying the equipment."
The word price comes from the Latin pretium, the money paid for something, and gave English a vocabulary of commerce, value, and prized things.
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Where does price come from?
The English word price comes through Old French pris from Latin pretium, meaning "the price paid for something" or "the value of a thing." The Latin root is also reflected in cognates such as prize, precious, and premium. Over time, price developed from a concrete monetary term into broader senses involving cost, value, and the consequences of making a choice.
Related word forms
How price is actually used
The noun is common in both formal and informal contexts. The verb is used especially in commercial and financial contexts, while phrases such as "the price of doing something" are metaphorical. In British English, "price" is also commonly used as the verb meaning to assign a price to something.
Easily confused with price
A price is an amount that something costs, whereas a prize is an award received for achievement or participation.
A price is what is charged for something; advice is guidance or a recommendation.