price

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Price

The value of a thing with real or perceived worth. Price represents the amount of value the market has assigned, fairly or unfairly, to a good or service. Normally, prices are expressed in terms of money, but practices such as countertrade and PIK securities indicate that prices may be expressed in goods: "four chickens for two sheep." Price is a necessary component of trade.

Prices tend to be regulated by the law of supply and demand; that is, a price of a good or service increases with smaller supply and/or greater demand. A corollary to this is the idea that commoditization drives prices down because it increases supply (sometimes vastly) while leaving demand the same. Prices likewise rise when the value of money declines. Governments can and have controlled the prices of certain goods and services by subsidy or decree. This is usually an anti-inflationary measure and tends to distort, rather than eliminate, the law of supply and demand. It is thus not generally sustainable as a mechanism for controlling price.

price

The dollar amount at which a security trades. Stocks are nearly always quoted fully (that is, $25 means $25 per share), while bonds are ordinarily quoted as a percentage of par value (that is, 98 represents $980 per $1,000 par bond).

price

the money value of a unit of a GOOD, SERVICE, FINANCIAL SECURITY or ASSET which a buyer is required to pay a seller to purchase the item. Usually the price of a product is fixed by the seller in advance on the basis of the costs of producing and selling the product and the seller's desired profit margin. In other cases, however, prices are variable, being determined by prevailing demand and supply conditions as with the sale, for example, of a STOCK or SHARE, a house or items sold at an auction.

Because a purchase involves a money outlay on the part of buyers who operate within a budget constraint, the price of a product is an important factor in the buying decision. It may well be the paramount consideration in many cases, but for some purchases other elements in the MARKETING MIX (product quality and performance etc.) may be equally if not more important. Thus, although many products (especially COMMODITY-TYPE PRODUCTS) tend to be sold at low, competitive prices, many others can be sold at higher prices, providing customers with a variety of price-quality trade-offs and other product attributes. See MARKET STRUCTURE, MONOPOLY, BUYER'S MARKET, SELLER'S MARKET, PRICING, PRICING OBJECTIVES, PRICING METHODS, FOUR P'S OF MARKETING.

price

the money value of a unit of a GOOD, SERVICE, ASSET or FACTOR INPUT. In some markets (for example, see PERFECT COMPETITION), price will be determined entirely by the forces of DEMAND and SUPPLY. By contrast, in other markets (for example, MONOPOLY markets) powerful suppliers have considerable discretion over the price that they charge. In certain circumstances, prices may be subjected to governmental PRICE CONTROL or regulated by means of PRICES AND INCOMES POLICY. See also EQUILIBRIUM MARKET PRICE, ADMINISTERED PRICE.

price

An amount of money exchanged for something of value.

References in periodicals archive ?
2 percent jump in the average sales price in 2017 was exceeded only by the 11.
The report cited high-prices sales at 56 Leonard for driving the average sales price for a condominium in Tribeca up 41 percent to $6,500,000 compared to the second quarter of 2016.
The combination of the lawsuit and the upcoming election are shining the brightest spotlight on the issue of real estate sales price disclosure since 2007, when a Task Force on Appraisal Reform appointed by Gov.
The median sales price actually increased five percent, rising from $1.
Manhattan average sales prices experienced substantial gains in the quarter and led to the citywide increases, but Brooklyn and Queens apartment average sales prices also saw increases, and are clearly retaining their value.
Brooklyn saw the greatest price growth this quarter with the average sales price for a home in Brooklyn increasing 12 percent year-over-year to $799,000.
Manhattan's coops and Brooklyn's one-to-three family homes also documented top average sales prices this quarter as compared to the first quarter of last year.
Repossessed home sales depressed average sales price figures for years, he said, but now more people who want to move up to bigger houses are putting their homes on the market.
Borrowers can layer several CalHFA products to finance up to 107 percent of the home sales price.
More recent market news was also released from our NYC Residential Sales Market 4th Quarter Report, which showed average sales prices increased, with the average price of a home in New York City increased 10 percent in the fourth quarter of 2010 compared to the same time last year and rose two percent compared to the previous quarter, while the number of transactions and the total dollar value of all property sales declined, according to the report.
16 on its annual list of the 250 richest towns in the country, based on median home sales prices in 1999.
Despite rising New York City home sales prices, transactions declined by 24% in the fourth quarter of 2010 to 8,800 from 11,600 in the fourth quarter of 2009.