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 ?
After launching our partnership last year, including global events and the curation of truly priceless moments at Worlds, we're thrilled to be expanding the relationship and partnering with Mastercard to deliver additional unique experiences directly to LCS fans in North America," said Matthew Archambault, Head of Esports Partnerships and Business Development for North America at Riot Games.
NASA only realised the mistake when buyer Nancy Carlson sent back the priceless bag for authentication.
Ramiz and Wasim are priceless: Sethi Najam Sethi, chairman of PCBs executive committee and the main head handling the PSL, said that Ramiz and Wasim cannot be paid for the job they were doing for the entire country as they are priceless.
as in "priceless." No charge.* ZERO dollars.* Call now and we'll send you this impressive helping of genuine amethyst (independently appraised at $295) for FREE.
PRICELESS Billy and his famous boots, right, and the Dali painting of Christ of St John on the Cross
(There has also been an instance when Justin has turned up at a lucky individual's home on a "priceless surprise" visit.)
She said: "I am a fan of Elvis and the horse has a lovely name and I even got to meet jockey Tony McCoy and trainer Jonjo O'Neill - I am a racing fan and that is a priceless picture for my mantelpiece."
A pair of cat burglars run into trouble when they break into a home to get their hands on a priceless masterpiece.
LAURA Mvula has been announced as the first act for MasterCard's Priceless gigs for 2014.
--Freeman Tilden "The Priceless Ingredient" Interpreting Our Heritage
MasterCard has launched its Priceless Arabia campaign, which brings the global Priceless Cities programme to the Middle East and North Africa for the first time.
US payments technology firm MasterCard (NYSE: MA) said it is launching its Priceless Aruba programme in partnership with Aruba's Ministry of Tourism and the Tourism Authority of Aruba.