Price (noun) is the amount of money required to buy or obtain something. It can also mean a cost, sacrifice, or consequence attached to a decision or outcome. As a verb, to price means to set or determine the selling price of something.
What Does Price Mean?
Price comes from Old French pris (value, worth) and ultimately from Latin pretium (price, reward). The Latin root also gives English precious, appreciate, appraise, and prize — all carrying the core idea of value or worth. The word has been used in English since at least the 13th century.
In everyday use, price most often refers to the monetary amount displayed on a product or quoted for a service: "The price of the course includes all materials and resources." It appears constantly in commerce, negotiation, and consumer contexts — on price tags, in adverts, and in conversations about whether something is worth buying.
Beyond shopping, price carries a wider figurative meaning. When we say "success comes at a price" or "she paid a heavy price for her ambition", we are talking about sacrifice, consequences, or trade-offs rather than money. This dual use — literal and figurative — makes price one of the most versatile nouns in English.
As a verb, price is slightly more formal: "The retailer priced the item at £40." A particularly important phrase is priced out of: "Many young families are priced out of the housing market", meaning they can no longer afford something because costs have risen too high.
Example Sentences
| Sentence | Level / Usage note |
|---|---|
| What is the price of this bag? | A2 — simple question about cost |
| The price of the course includes all materials and resources. | B1 — noun as subject, formal context |
| They decided to lower the price to attract more customers. | B1 — verb phrase (lower the price) |
| The manager priced the new product at a level that undercut all competitors. | B2 — price as verb, business register |
| Political stability often comes at the price of individual freedoms. | C1 — figurative use, abstract consequence |
Collocations
| Collocation | Example |
|---|---|
| asking price | The asking price for the flat was £350,000. |
| market price | Sellers must accept the current market price. |
| full price | I never pay full price — I always wait for a sale. |
| half price | Children's tickets are available at half price. |
| retail price | The recommended retail price is printed on the box. |
| competitive price | We offer high-quality services at a competitive price. |
| set / fix a price | The committee will set a price for the new licences. |
| raise / increase the price | The landlord raised the price of the rent again. |
| cut / reduce the price | They cut the price by 20% to clear old stock. |
| pay the price | He worked without rest for months and paid the price with his health. |
Usage Notes
Key Points for ESL Learners
- Price vs. cost vs. fee vs. charge: Price is set by a seller for a product. Cost is the total expense you incur (including indirect costs). Fee is a charge for a professional service (a solicitor's fee, a membership fee). Charge is an amount formally billed for a specific service (a delivery charge, a bank charge). These words overlap but are not freely interchangeable.
- Price as a verb: Use price as a verb mainly in business contexts — "priced at", "priced competitively", "priced out of the market". In conversation, "How much does it cost?" is more natural than "How is it priced?"
- Figurative use: In formal and written English, price frequently expresses a non-monetary cost: "the price of fame", "at the price of one's dignity". This use is idiomatic and appears in journalism, essays, and speeches.
- Price tag: A price tag is literally the label attached to a product showing its price. Informally, it also refers to the total cost of any large project: "The renovation came with a hefty price tag."
Common Mistakes
Watch Out For
The price of this shoes are very high.
The price of these shoes is very high. (price is singular — the verb agrees with price, not shoes)
What is the price for this jacket? (less natural)
What is the price of this jacket? (use of, not for, with most nouns)
She doesn't know the price to pay.
She doesn't know the price she will have to pay. (the figurative phrase needs a clause or pronoun to be clear)