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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 ?
"The Mobile Quick Pricer helps loan officers generate more loan volume by letting them take advantage of those random opportunities."
Pricer advises credit unions to work closely with their health care broker who can help guide them through the maze of clarifications and proposed rules of the health care reform law that will be coming from the U.S.
Lindo's Market, a Bermuda-based independent, is currently using StoreNext's Pricer ESL system to call attention to promoted items throughout the store.
"Ask the questions, don't assume it's just being handled by your carrier or that you have no choice in the process," said Pricer. "The good news is that 2012 is a good year for a Supreme Court decision because as far as requirements this year, there's not a lot coming into play in 2012."
According to Pricer, that health care insurance exchanges will continue to move forward, regardless of the Supreme Court's decision, which is expected in June, and credit unions should make the most of the opportunity.
As of 30 September 2018, these shareholders combined represent about 29% of the votes in Pricer AB.
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.
"There are approximately 25 lawsuits filed by numerous states challenging the constitutionality of various provisions of the health care reform laws creating much political discussion and an uncertain path for business owners and employees," Pricer said.
McKesson has introduced McKesson Reimbursement Manager , 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.
As speculation grows about the recently passed health care reform legislation, CUNA Mutual Employee Benefits Consultant Brad Pricer urges credit unions not to panic.
Pricer AB (STO:PRICB), a provider of in-store shelf-edge digital solutions, announced on Friday that its Norwegian reseller StrongPoint, has reached an agreement with NorgesGruppen to equip up to 350 Joker stores with Pricer's digital system.
According to CUNA Mutual Group Employee Benefits Brokerage Sales/Retention Manager Brad Pricer, credit unions are missing out on a great opportunity by setting their open enrollment season on automatic pilot.