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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 ?
Credit unions should be working with their broker or consultant to stay on top of required mandates," Pricer said.
Building on the success of PriceMyLoan's recently released Quick Pricer, the Mobile Quick Pricer allows originators to enter loan scenarios and obtain loan qualification and current pricing directly from their smart-phone.
JDAA Pricer combined with JDAA Cargo Revenue Optimizer provides us with a deeply sophisticated solution to the complex pricing and revenue management issues we face.
One of the big misperceptions about the upcoming Supreme Court decision is that credit unions think they don't need to do anything as health care reform will probably just go away," said Pricer.
later TJ Maxx) in the Framingham and Worcester warehouse locations as a jewelry pricer before retiring.
According to Colwell, MHL's account executives will use Loan-Score's PDA Pricer, which delivers pricing and prequalification capability directly to their mobile handheld devices or BlackBerrys[R], thus offering customers on-demand access to information.
availability of the Pricer to bookmakers for internet based end to end
Versata's Latest Pricer Release Provides Enhanced Performance, Productivity
It's a fairly significant change for the retailer, so the retailer has to be committed to it, they have to be assured they have an adequate return on investment, and then they have to be able to make full use of the system," says Wyatt Alston, vice president of sales and marketing for New York-based Pricer, Inc.
Bill Pricer, a Los Angeles County Sheriff's Department chaplain.
Texaco revealed it has had radio frequency labels from Swedish firm Pricer up and running at six company owned forecourt sites in Hampshire and Dorset since 1999.
McKesson has introduced McKesson Reimbursement Manager[TM], an advanced claims pricer, to help health plans administer more complex reimbursement strategies -- for example, combinations of fee for service and newer models such as bundled payments for episodes of care -- while reducing administrative costs and increasing payment accuracy.