1 [uncountable and countable]BBTthe amount of money you have to pay for somethingCOLLOCATIONS COLLOCATIONS high/low price prices go up/rise/increase/soar prices go down/fall/drop prices fluctuate (=prices go up and down) a price rise/increase a reduction/fall/drop in prices put up/increase/raise prices cut/lower/slash prices (=make them lower) agree (on) a price/fix a price price freeze (=when prices are kept at the same level) price war (=when shops try to have the lowest prices)
People are prepared to payhigh pricesfor designer clothes.
at pay1 (9)WORD CHOICE: WORD CHOICE: cost, costs, price, charge, fee, fareUse costto talk about paying for services and activities, rather than objects• The total cost of the trip was under $500.• I worked out the cost of the repairs.Your costsare the amount of money you have to spend in order to run a business or to do a particular activity• The shop was not making enough money to cover its costs.Use price to mean the amount of money that you must pay for something in a place such as a shop or restaurant• We are cutting all our prices (NOT costs) by 50% for one day only! • We were shocked by the price of a cup of coffee in London.A chargeis the amount you have to pay to have a particular service or use something• For a small charge we will also make your hotel reservations. A feeis the amount you have to pay to enter or join something• The gallery charges no entrance fee. • The fee for membership is £25 per year.It is also the amount you have to pay for a professional service• The lawyer explained her fees.A fareis the amount you have to pay to travel somewhere by bus, train, plane etc• I need some money for my bus fare. • His parents paid his fare to Sydney. ➔ See alsocost
Definition of price from the Longman Dictionary of Contemporary English within the topic TRADE