What does prize mean?
A prize is an award or reward given for achievement, merit, or success. It may take the form of money, a trophy, a title, recognition, or another valued benefit. The phrase first prize commonly denotes the highest award in a competition, while prize money refers specifically to a monetary reward. Prize can also mean something highly valued: a rare manuscript might be considered a family prize. As a verb, to prize something is to hold it in high esteem or regard it as especially valuable or worthy of care. The expression prize over something emphasizes how highly it is valued. In the sense of competing for a reward, prize is chiefly British, although the form is understood throughout the English-speaking world. The word is easily confused with price: a prize is generally earned or awarded, while a price is the monetary value assigned to something in an exchange.
An award, reward, or recognition given for achievement, merit, or success; also, something regarded as exceptionally valuable.
"The judges awarded the team first prize for its innovative design."
The word applies to tangible rewards, such as trophies and cash, as well as intangible honors such as praise, prestige, or an opportunity.
To regard or value something highly, especially enough to take special care of it.
"The collector prizes the manuscript because it is the only surviving copy."
Often used in a formal or literary register. The phrase prize over something conveys particularly strong regard.
The plural refers to individual awards, rewards, or highly valued possessions.
"The competition offered substantial prizes for original writing."
Prize and price share the same Latin root: one is what you win, the other is what you pay.
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Etymology of prize
The noun entered Middle English through Anglo-French from Old French pris, meaning a reward or capture, ultimately from Latin pretium, “price” or “value.” The verb developed from an earlier sense meaning to value or appraise and is now especially associated with high esteem. The shared history explains the distinction between prize, a valued reward, and price, the monetary value of a commodity.
How prize is actually used
The noun is used for both tangible rewards, such as trophies and money, and figurative honors or benefits. The verb prize is formal and means to value something highly; it is less common in everyday speech than the noun.
Easily confused with prize
A prize is a reward for achievement or distinction, whereas a price is the amount of money asked or paid for something.