What is price?

What Does price Mean

Price , from the Latin pretĭum , is the monetary value assigned to something . All the products and services offered in the market have a price, which is the money that the buyer or client must pay to complete the operation.

For example: if the price of a pants is $ 100, the person who wants to buy it must pay that amount to take the product. In the case of services, the price is usually linked to a subscription, fee or rate since, in general, they must be paid periodically. Cable television service can be priced at 200 pesos per month, among other cases.
The price, at a conceptual level, expresses the value of the product or service in monetary terms . Raw materials, production time, technological investment and competition in the market are some of the factors that influence price formation.

It is important to note that the price also includes intangible values , such as the brand . A shirt made with the same materials can have very different prices according to the brand, since the consumer acquires different symbolic values ​​with it.
The increase in prices over time is known as inflation , while the opposite trend is called deflation .
In both cases, price variations are stipulated and established by means of a series of existing price indices. This would be the case, for example, of what is known as the Consumer Price Index, more commonly called the CPI, which revolves around the prices of products that are frequently purchased by families in the country in question. .
Nor should it be overlooked that the term in question is commonly used in a common way to make it clear that someone is important or is held in high esteem. An example of the use of this meaning could be the following: "Juan is a man of great price for his wisdom, his know-how, his tolerance and his generosity."
Also within the scope of law we also have to emphasize that there is what is known as price. In your case, it is a term that is used to refer to the consideration in money.
Beyond the monetary meaning, the concept of price is used to name the effort, suffering or loss that serves as a means to obtain something : "Sergio paid a very high price for succeeding in the professional world: he had a heart attack due to stress" .
And, of course, we cannot ignore that in a colloquial way we use a series of expressions in which the word price is included. This would be the case, for example, of “having no price”. With this verbal locution what you want to convey is that something or someone is very valuable.
In the same way, there is also the phrase "raise the price", which serves to make it clear that the rise in value of something in particular has taken place.

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