price

thumb|The competitive price system according to Paul Samuelson thumb|upright|A price display for a tagged clothes item at Kohl's

AI overview

Price is the amount of money you pay to buy something, as shown on tags or labels when you shop. It matters because prices help determine what things cost, which affects what people can afford to buy and how sellers decide what to offer.

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Wikidata facts

Image: Wireless in-store price display at a clothing retailer in NJ.jpg

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P8168: thiazyl fluoride

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~14 min read

Article

15 sections

Contents

Functions of prices
Price and value
Negative prices
Austrian School theory
Price as productive human labour time
Confusion between prices and costs of production
Price point
Market price
Price databases
Other terms
See also
Notes
References
Further reading
External links

thumb|The competitive price system according to Paul Samuelson thumb|upright|A price display for a tagged clothes item at Kohl's

A price is the (usually not negative) quantity of payment or compensation expected, required, or given by one party to another in return for goods or services. In some situations, especially when the product is a service rather than a physical good, the price for the service may be called something else such as "rent" or "tuition". Prices are influenced by production costs, supply of the desired product, and demand for the product. A price may be determined by a monopolist or may be imposed on the firm by market conditions.