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Prices Meaning: Definition, Examples, and Translations

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prices

[หˆpraษชsษชz ]

Definitions

Context #1 | Noun

supermarket

The amount of money that you have to pay for something.

Synonyms

charge, cost, fee.

Which Synonym Should You Choose?

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Word Description / Examples
prices

General term for the amount of money required to purchase goods and services. Typically used when discussing a variety of items or a marketplace.

  • The prices at this supermarket are very reasonable.
  • She compared prices at different online stores before making a purchase.
cost

Indicates the amount of money needed to pay for something. Frequently used when discussing the expenses or effort required.

  • The cost of living in the city has increased.
  • What's the total cost of this project?
fee

Usually refers to a fixed charge for a particular service or privilege, such as legal consulting, membership, or tuition.

  • The gym charges a monthly membership fee.
  • She had to pay a fee to submit her university application.
charge

Refers to the amount of money demanded for a specific service. Often used in professional or service-oriented contexts.

  • The plumber's charge for fixing the pipe was $70.
  • They added an extra charge for late payments.

Examples of usage

  • The prices of groceries have gone up recently.
  • I can't believe the price of gas these days.
Context #2 | Noun

economics

The value of a currency in terms of another currency or goods.

Synonyms

exchange rate, rate, value.

Which Synonym Should You Choose?

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Word Description / Examples
prices

This term is typically used to refer to the cost of goods and services. It's commonly employed in conversations about shopping, budgeting, or the overall cost of living.

  • The prices of groceries have increased steadily over the past year.
  • I always compare prices before making a big purchase.
value

This term describes the worth or usefulness of something. It can be used in both financial contexts and when talking about the importance or benefit of an item or action.

  • The value of this painting has increased significantly over the years.
  • Quality customer service adds great value to a business.
rate

This word can refer to various types of rates, such as interest rates, growth rates, or even rates of speed. It's a general term often used in economic, business, and everyday contexts.

  • The bank just announced a new interest rate for savings accounts.
  • Our company's growth rate has been impressive this quarter.
exchange rate

Use this term when talking about the value of one currency in terms of another. It's often used in financial contexts, travel, and international business.

  • The exchange rate between the dollar and the euro has been quite volatile recently.
  • I need to check the exchange rate before we go on vacation to Europe.

Examples of usage

  • The price of the dollar against the euro is currently high.
  • The price of gold is constantly changing.
Context #3 | Verb

negotiation

To set the amount of money that something is worth or that you want to be paid for something.

Synonyms

appraise, assess, evaluate.

Which Synonym Should You Choose?

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Word Description / Examples
prices

Refers to the monetary value of items or services. Commonly used in business, retail, and economics.

  • The prices of groceries have increased this year
  • They compared the prices of different smartphones before making a purchase
evaluate

Refers to analyzing the quality, importance, or condition of something. Often used in academic, business, or experimental settings.

  • It is important to evaluate the results before drawing conclusions
  • They hired a consultant to evaluate their marketing strategy
assess

Implies a comprehensive evaluation, often of a situation, process, or performance. Commonly utilized in education, project management, and risk analysis.

  • The teacher will assess the students' presentations
  • The company needs to assess the environmental impact of the new project
appraise

Used when determining the value of something, often in real estate, art, or personal possessions. It implies a more formal and official evaluation.

  • The antique dealer came to appraise the painting
  • We need to appraise the property before buying it

Examples of usage

  • He priced the painting at $5000.
  • The company has priced their products competitively.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Economics

  • Prices are determined by supply and demand; when items are scarce and people want them, prices go up.
  • Inflation impacts prices, causing money to lose its purchasing power over time.
  • Price elasticity indicates how much the demand for a product changes when its price changes.

Cultural Perspectives

  • In some cultures, haggling over prices is a traditional part of shopping, emphasizing negotiation skills.
  • Cultural perceptions of price can influence buying behavior, with some valuing quality over cost.
  • The idea of 'price' often evokes feelings of status or class in consumer societies.

Psychology

  • Research shows that people perceive higher prices as indicative of higher quality.
  • Psychological pricing techniques, like ending prices in .99, can trick consumers into thinking theyโ€™re getting a better deal.
  • The 'anchoring effect' means that the first price a buyer sees can heavily influence their expectations and decisions.

Pop Culture

  • Many songs and movies use the concept of price to highlight themes of love, loss, and sacrifice.
  • Reality TV shows often focus on lavish lifestyles, showcasing luxury items and their high prices.
  • The phrase 'You can't put a price on love' emphasizes that while many things have monetary values, some things are invaluable.

Origin of 'prices'

Main points about word origin

  • The word traces back to the Latin 'pretium', meaning value or worth.
  • Originally from Middle English, where it appeared as 'pris', relating to value.
  • The term has evolved to encompass various contexts, often linked to trading and commerce.

The word 'price' originated from the Old French word 'pris', meaning 'value, worth, reward'. It entered the English language in the 13th century. Throughout history, the concept of prices has been central to economies and trade, reflecting the value placed on goods and services. Prices play a key role in determining supply and demand, as well as influencing consumer behavior and market dynamics.

See also: overprice, overpriced, overpricing, precious, price, priceless, pricer, pricey, underprice, underpriced.

Word Frequency Rank

At #780 in the frequency ranking, this word is highly important for effective communication. It's commonly used in daily situations and should be prioritized in your vocabulary building.