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Overpriced: meaning, definitions and examples

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overpriced

 

[ˌoʊvərˈpraɪst ]

Definition

Context #1 | Adjective

product pricing

Priced higher than the actual value or cost; excessively expensive.

Synonyms

costly, expensive, high-priced, pricey.

Which Synonym Should You Choose?

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Word Description / Examples
overpriced

Use 'overpriced' when you think something costs more than it should. This word has a negative connotation.

  • The shoes were nice but definitely overpriced.
  • I didn't buy the coffee because it was overpriced.
expensive

Use 'expensive' in a general sense to describe something that costs a lot of money. It doesn't necessarily imply that the price is unfair.

  • That watch is very expensive.
  • She bought an expensive coat.
costly

Use 'costly' to describe something that is expensive and may have a significant financial impact. This word can imply that the expense might not be worth it.

  • The repairs to the car were quite costly.
  • His decision to skip classes proved to be very costly.
high-priced

Use 'high-priced' as a more formal way to indicate something that has a high cost. It is often used in economic or formal contexts.

  • They live in a high-priced neighborhood.
  • The high-priced items were kept on the top shelves.
pricey

Use 'pricey' informally to describe something that is expensive. It is a casual term and can be used in everyday conversation.

  • That restaurant is too pricey for me.
  • These jeans are a bit pricey, don't you think?

Examples of usage

  • The designer handbag was overpriced, as it cost much more than similar bags on the market.
  • Many customers were disappointed by the overpriced tickets for the concert.

Interesting Facts

Etymology

  • The word combines 'over,' meaning too much, and 'priced,' meaning the amount of money something costs.
  • It has been in use since the late 19th century, responding to economic shifts and consumer behavior.
  • Before this term, people used phrases like 'too expensive' to express similar sentiments.

Economics

  • Pricing strategies sometimes take advantage of consumer perceptions, leading to items being labeled as overpriced when they don’t meet expectations.
  • Elasticity of demand means that when prices hike too high, customers often buy less or turn to alternatives.
  • Inflation can cause items to feel overpriced even if their prices are historically reasonable.

Pop Culture

  • Movies and TV shows often highlight the absurdity of overpriced products in satirical ways, drawing attention to high consumerism.
  • Certain brands have become notorious for being overpriced, especially luxury items seen in fashion media, leading to discussions about authenticity versus brand name privilege.
  • Comic strips and memes frequently poke fun at overpriced goods, making the term familiar in everyday conversations.

Consumer Psychology

  • People are often willing to pay more for items they perceive as exclusive or high-status, even if those items are overpriced.
  • A phenomenon known as 'anchoring' occurs when the first price seen influences how we judge other prices, contributing to feelings of something being overpriced.
  • The 'sunk cost fallacy' can lead customers to continue investing in overpriced products because they've already spent money, even if they realize the cost is too high.

History

  • Historical events, such as major wars and natural disasters, can cause goods to become overpriced due to scarcity.
  • The Great Depression led to a different perception of value, where certain items that were overpriced in the past became economically unfavorable.
  • During the dot-com bubble, many tech products were launched at inflated prices that later plummeted in value, teaching investors valuable lessons about worth.

Translations

Translations of the word "overpriced" in other languages:

🇵🇹 caro demais

🇮🇳 अत्यधिक मूल्यांकन

🇩🇪 überteuert

🇮🇩 terlalu mahal

🇺🇦 занадто дорогий

🇵🇱 przepłacony

🇯🇵 高すぎる

🇫🇷 trop cher

🇪🇸 demasiado caro

🇹🇷 fazla pahalı

🇰🇷 너무 비싼

🇸🇦 مبالغ فيه

🇨🇿 předražený

🇸🇰 predražený

🇨🇳 过高的

🇸🇮 previsok

🇮🇸 of dýrt

🇰🇿 тым қымбат

🇬🇪 ძალიან ძვირი

🇦🇿 çox baha

🇲🇽 demasiado caro

Word Frequency Rank

At rank #29,452, this word represents specialized academic or technical vocabulary. It's less frequently encountered but may be valuable in specific contexts.