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In ordinary usage, price is the quantity of payment or compensation given by one party to another in return for goods or services.
In modern economies, prices are generally expressed in units of some form of currency. (For commodities, they are expressed as currency per unit weight of the commodity, e.g. euros per kilogram.) Although prices could be quoted as quantities of other goods or services this sort of barter exchange is rarely seen. Prices are sometimes quoted in terms of vouchers such as trading stamps and air miles. In some circumstances, cigarettes have been used as currency, for example in prisons, in times of hyperinflation, and in some places during World War2. In a black market economy, barter is also relatively common.
In many financial transactions, it is customary to quote prices in other ways. The most obvious example is in pricing a loan, when the cost will be expressed as the percentage rate of interest. The total amount of interest payable depends upon credit risk, the loan amount and the period of the loan. Other examples can be found in pricing financial derivatives and other financial assets. For instance the price of inflation-linked government securities in several countries is quoted as the actual price divided by a factor representing inflation since the security was issued.
Price sometimes refers to the quantity of payment requested by a seller of goods or services, rather than the eventual payment amount. This requested amount is often called the asking price or selling price, while the actual payment may be called the transaction price or traded price. Likewise, the bid price or buying price is the quantity of payment offered by a buyer of goods or services, although this meaning is more common in asset or financial markets than in consumer markets.
Economists sometimes define price more generally as the ratio of the quantities of goods that are exchanged for each other.
The expected/fixed exchange value of a commodity or service in terms of its currency equivalents as per the mode of acceptance preferred by the offer to be agreed upon by the buyer and seller of such goods and services; whereby buyer also include 'prospective buyer'.
The price is the amount of money that the firms sets to cover all its costs considering this product plus its accepted profit margin.
Price is based on the collate with the competition and USP's , brand premium as well.
The cost at which something is obtained is price.
Definition of price:
1. the sum or amount of money or its equivalent for which anything is bought, sold, or offered for sale.
2. a sum offered for the capture of a person alive or dead:
"The authorities put a price on his head."
3. the sum of money, or other consideration, for which a person's support, consent, etc., may be obtained, especially in cases involving sacrifice of integrity:
"They claimed that every politician has a price."
4. that which must be given, done, or undergone in order to obtain a thing:
"He gained the victory, but at a heavy price."
5. odds (def2).
6. Archaic. value or worth.
7. Archaic. great value or worth (usually preceded by of).
cost of manufacturing a product plus the market acceptable profit margin is the price.
The sum or amount of money at which a thing is valued, or the value which a seller sets on his goods in market.
Price is the amount being charged for a product or service.
A customer is willing to pay a certain amount for a product or service and company's sshould try to maximize it by improving on their margins and adding value to their supply chain.
'Price' is
Is a fair valuation of the commodity
Migti costs and achieves profit margin
To continue the company
And to grow
