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 ?
Sentencing, Judge Morton Jack said: "The lives lost are beyond price and no punishment under the law can in any way be a measure of their value.
That's the kind of invaluable help that's beyond price for me.
The visitors added further goals through Hanke after 78 minutes and Marcell Jansen, whose last minute effort was deflected beyond Price.
Sternberg said in a November 2004 interview that its agent sales would be up 5% in 2004, but brokerage sales would be down significantly because brokers "often don't look beyond price to find the best value for the client"
They prove friendship is beyond price and don't have to drive over a cliff to prove their loyalty.
Secondly, it notes, value retailers have "out-executed" their competition, moving beyond price as a point of differentiation and improving on merchandise assortment and key elements of convenience and in store experience.
This is the result of traditional procurement practice which rewards higher prices with a higher profit ``Partnering is about looking beyond price and focusing on value.
The event, sponsored by the Oriental Rug Importer's Association, will present "Moving Beyond Price and Color: Cultivating Passion for the Rug.
Households look beyond price and demand more convenience, fun and consumer technologies from electricity management programs
So, I have two recommendations retailer marketing teams should build their band, both in-store and through marketing communications, beyond price.
Sentencing him, Judge Morton Jack, said: "The lives lost are beyond price and no punishment under the law can in any way be a measure of their value.