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 ?
Out of this Moment": Out of the moment you might take/Rubies, saphhire, pearls beyond price,/Just for the miracle of faith,/Pure and undefiled as the hour/When rain slips down the heavens/Like the mercy of God that it is,/Out of this moment you might take/A joy and beauty that only you can make.
What's more, the appeal of these wines goes beyond price, as they bring new tastes and flavors to the table for which Millennial and other curious customers are hungering.
They are genuinely beyond price and say things to me about faith in God and life in the world.
MARK HUGHES may be in charge of the richest club in the world, but he knows there's one player who may just be beyond price.
In this country, on the other hand, we do have the notion of freedom, and an ideal image of ourselves as "free" Ours is the "land of the free" we are born "free and equal"; and certainly, when these phrases were originally used, free referred to something of value beyond price, worth fighting and dying for.
The satisfaction she could get by changing people's lives with her money would surely be beyond price.
And Phillips completed his hat-trick in stoppage time when he curled a leftfoot shot beyond Price.
The honours system, designed to reward those in public service, is now exposed as a private auction, and while the highest bidder always wins the auction, some things should remain beyond price.
In "THE DELIGHTS OF DOLLAR STORES," the October 2003 Shopper Report said that "The appeal of dollar stores continues unabated for reasons beyond price.
The custom programs are making money for the business schools, and executives are finding a rich vein of affordable training expertise that often has benefits beyond price.
But beyond price points, the sale depends heavily on the emotional connection between the consumer and the rug's theme, she said.