Entity: PRICE
Price refers to the outlay or expenditure required in buying or maintaining something, whether in terms of money or other costs. It can also denote something desirable, impressive, or noteworthy. The concept of price encompasses the value assigned to goods, services, or experiences.
PRICE
Etymology
The word 'price' originated from the Latin word 'pretium', meaning value or worth.
Definition
Price refers to the outlay or expenditure required in buying or maintaining something, whether in terms of money or other costs. It can also denote something desirable, impressive, or noteworthy.
Historical Context
Throughout history, the concept of price has been central to trade, commerce, and economics. Prices have fluctuated based on supply and demand, economic conditions, and other factors.
Cultural Significance
In various cultures, the concept of price carries different meanings and values. It can symbolize status, luxury, or affordability.
Related Concepts
- Cost
- Value
- Expense
See Also
Price is the amount of money given or set as consideration for the sale of a specified thing, or something desirable, impressive, or otherwise noteworthy.