Definition and meaning of English word "price"
price
/praɪs/
Meaning
NounThe cost required to gain possession of something.
How to use
In everyday conversation, the word 'price' is often used to refer to the cost of a product or service. For example, 'The price of a new smartphone is $1,000.' However, in more formal contexts, such as business or economics, the term 'price' can also refer to the amount of money that buyers are willing to pay for a good or service. For instance, 'The price elasticity of demand for a new product is high.' Learners of English should be aware that the word 'price' can be confused with 'cost,' but 'cost' typically refers to the total expenses incurred in producing a good or service, whereas 'price' refers to the amount paid by the consumer.
🇬🇧 English
price
Example
It is important to keep the price in a safe place.
Your personal vocabulary
🦊 Use this word in a live AI conversationSynonyms
Common phrases
- price hike— A sudden increase in the price of something.
- price drop— A sudden decrease in the price of something.
- price war— A competitive situation in which companies lower their prices to gain market share.
This concept in other languages
Frequency rank: #1101 in English
Learn them all! 🚀
Master the 1000 most common English words with smart explanations, audio pronunciation, and spaced repetition.
Start Learning For Free →No sign-up required
Frequently Asked Questions
What does the English word "price" mean?▼
The English word "price" means "price" in English.
How do you pronounce the English word "price"?▼
You can hear the correct audio pronunciation of the word "price" by clicking the play button next to the word at the top of this page.
Can I see an example sentence with "price"?▼
Yes, here is a practical example: "She chose a new price yesterday." (which translates as "price").
More Shopping & Market words
Related reading
Duolingo vs Anki vs Apps: Comparing Language Learning Methods in 2026
An honest comparison of popular language learning approaches: gamified apps, SRS flashcards, textbooks, tutors, and immersion. Pros, cons, and who each is best for.
Read →MethodWhat Is Spaced Repetition? The SM-2 Algorithm Explained Simply
Spaced repetition is the single most effective method for memorizing vocabulary. Learn how the forgetting curve works, how the SM-2 algorithm calculates review intervals, and why 20 minutes a day beats 2 hours of cramming.
Read →