price

(redirected from priceless)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia, Wikipedia.

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 classic literature ?
I am not an easy enthusiast where women are concerned, but she was without doubt the most admirable find of his amongst all the priceless items he had accumulated in that house - the most admirable.
These things win me more than Italy's hundred galleries of priceless art treasures, because I can understand the one and am not competent to appreciate the other.
Passing beneath the spear of the White Death we gazed, with sensations which it would be quite impossible for me to describe, at the mass of rock that had shut us off from escape, thinking the while of priceless treasures beyond, of the mysterious old hag whose flattened fragments lay crushed beneath it, and of the fair girl of whose tomb it was the portal.
Nay, show us the priceless web of Eastern looms," quoth Cronshaw.
Before him he saw the figure of a young man, naked except for a loin cloth and a few barbaric ornaments about arms and legs; on the breast a priceless diamond locket gleaming against a smooth brown skin.
No gorgeous silks, no priceless furs lent life and colour to the cold marble and the gleaming ersite.
The buckles of her shoes were set with pearls, too, and more of these priceless gems were on a lovely coronet which she wore upon her forehead.
But for Perry and Ghak I should have leaped to the floor of the arena and shared whatever fate lay in store for this priceless treasure of the Stone Age.
He plunged his hands into them and let the priceless gems filter through his fingers.
He had a girl-wife from whose cheeks the roses were slowly fading, and very soon would come a time when a bank-note, even the smallest, would be a priceless gift.
The streets were full of people who had worked indoors all through the priceless day and had now come hungrily out to drink the muddy lees of it.
O Brown Holland you are but a coarse and cheap fabric, yet how soft and priceless you look when clothing the figure of Alicia!