From Longman Dictionary of Contemporary Englishpriceprice1 /praɪs/ ●●● S1 W1 noun 1 [countable, uncountable]BBTCOST the amount of money you have to pay for somethingprice of The price of fuel keeps going up.price for We agreed a price for the bike. Supermarkets often offer you two products for the price of one. → asking price, cost price, list price, market price► see thesaurus at cost2 UNPLEASANT[singular] something unpleasant that you must suffer in order to be successful, free etc, or that you suffer because of a mistake or bad actionprice of He’s never at home, but that’s the price of success. The awful boat journey was a small price to pay for freedom. They may pay a high price for their few years of glory. The country will pay a heavy price for the government’s failure. She was finally made senior executive, but at what price!3 → half/full price4 → at a price5 → at any price6 → not at any price7 → put a price on something8 → What price fame/glory etc?9 → be beyond price10 → price on somebody’s head11 → everyone has their price → cheap at the price at cheap1(8), → name your price at name2(7), → pay the price at pay1(9)COLLOCATIONS – Meaning 1: the amount of money you have to pay for somethingADJECTIVES/NOUN + pricehighHouse prices in the UK are very high.lowWith such low prices, there are lots of eager buyers.reasonable (=not too high)The price was reasonable for such good food.fairI am sure we can agree on a fair price.astronomical (=extremely high)Many fans paid astronomical prices for their tickets.exorbitant/extortionate (=much too high)£10,000 seemed an exorbitant price for the rug.inflated (=higher than is usual or reasonable)People seem willing to pay inflated prices for houses in central London.house/food/oil etc pricesA poor harvest led to higher food prices.a good price (=quite high)Did you get a good price for your car?a bargain price (also a knockdown/giveaway price) (=much lower than usual)We sell quality cars at bargain prices.The house is available at a knockdown price of $195,000.the market price (=the price of something on a market at a particular time)We think the stock’s current market price is too high.the asking price (=the amount of money that someone is asking for when they are selling something, especially a house)The property is worth more than the asking price.the purchase price formal (=the price that someone pays when they buy something, especially a house)You can obtain a loan for up to 90% of the purchase price.the retail price (=the price that the public pays for something in a shop)Tax is 40% of the retail price of a typical bottle of wine.the wholesale price (=the price that a business such as a shop pays to buy something)Wholesale coffee prices have fallen.verbsa price goes up/rises/increasesWhen supplies go down, prices tend to go up.a price goes down/falls/decreasesIn real terms, the price of clothes has fallen over the last ten years.a price shoots up/soars/rockets (=increases quickly by a large amount)The price of oil soared in the 1970s.prices fluctuate (=keep going up and down)Gas prices have continued to fluctuate in recent months.prices start from £200/$300 etcTicket prices start from £39.00.prices range from £30 to £65 etcOver 1,000 paintings will be shown with prices ranging from £50 to £5,000.put up/increase/raise a priceManufacturers have had to put their prices up.cut/lower/reduce a priceThe company recently cut the price of its best-selling car.slash a price (=reduce it by a very large amount)Many carpet stores have slashed prices to bring in customers.fix a price (=decide on it, sometimes illegally with others)Publishers are not permitted to fix prices with one another.agree on a priceNow all we need to do is agree on a price.pay a good/low etc priceI paid a very reasonable price for my guitar.get a good/reasonable etc price (=be paid a particular amount for something)Farmers now get a decent price for their crop.fetch a good/high etc price British English, bring a good, high etc price American English (=be sold for a particular amount of money)I’m sure the painting would fetch a good price in London.price + NOUNa price rise/increaseConsumers are facing more fuel price rises.a price cut/reductionHoliday sales were down, even with drastic price cuts.a price freeze (=when prices are kept at the same level by a company or by the government)A price freeze on nine basic goods was announced on June 14.PHRASESa fall/drop in pricesPoor demand led to a sharp drop in prices.a rise in pricesThe sharp rise in wholesale food prices will have to be passed onto customers.in/outside somebody’s price range (=used when saying that someone can/cannot afford to pay for something)Unfortunately, there was nothing in our price range.COMMON ERRORS ► Don’t say ‘a convenient price’. Say a reasonable price or a fair price.THESAURUSprice noun [countable] the amount of money that you have to pay for somethingThe prices in that shop are rather high.You can have a two-course meal for a special price of £9.95.cost noun [countable] the amount of money that you have to pay for services, activities, or things you need such as food and electricityThe cost of the two-day course is $1,295.Many banks are raising their borrowing costs.a sudden increase in energy costsvalue noun [countable, uncountable] the amount of money that something is worth and that people are willing to pay if it is soldThe value of the painting was estimated at £500,000.Fine wines may increase in value.The shares have gone down in value.COLLOCATIONS – Meaning 2: something unpleasant that you must suffer in order to be successful, free etc, or that you suffer because of a mistake or bad actionverbspay a price (=suffer)We paid a heavy price for our mistakes this season.come at a price (also come at a high price) (=involve suffering or a bad result)She won fame, but it came at a high price.exact a price formal (=make someone suffer)The success of the nation’s businesses has exacted a dreadful price from the people.adjectivesa high priceSmokers often pay a high price in terms of their health.a heavy priceAny country breaking international law will be made to pay a heavy price.a terrible priceThe sport can exact a terrible price from its participants.phrasessomething is a small price to pay (=something is worth suffering in order to achieve something more important)Changing his job would be a small price to pay to keep his marriage intact.
Examples from the Corpusprice• The threat of a price war led to plunging shares for all the major players in the market.• The asking price for the 60-acre estate in Atlanta is $27 million.• Brand A is available, price £x, from the following chains.• Apple was forced to cut prices sharply, reducing its profit margin.• But that could cause another problem: If enough farmers pile into grain, it might cause an oversupply and depress prices.• Experts say they expect price rises to be gradual but persistent.• House prices are beginning to fall again.• House prices rose by around 12% in the south-east last year.• There's a great new clothes store on Main Street, and its prices seem very reasonable.• Microsoft chairman Bill Gates said it was impossible to build a good computer for such a low price.• The Japanese have raised prices just $8 a vehicle on average.• He told them to put their pushers out to undercut Huey's prices.• Payment at today's price may be by a single lump sum or by instalments.• They charge the same price for a takeaway as they do for eating in the restaurant.• Has the price of heart surgery gone up in the last five hundred years?• Just sick over the prices in shops selling the 1960s furniture you finally convinced your parents to throw out?• What's the price of a pack of cigarettes nowadays?price of• He's very busy, but I guess that's the price of success.• the price of goldat what price• They decided how much of their services the customers needed and at what price.• The invisible hand influences what prod-ucts will be produced and at what price.• It remains to be seen whether or not Novell would acquire all of AT&T's remaining stock and at what price.• The only questions are by whom and at what price.• The question then arises, at what price should a Treasury bill be sold on a given day?• With that type of talent, obviously you would be interested but at what price?• She's gotten the job she wanted, but at what price?• He may win, but at what price?• The question was whether part of the floor area should be included and if so at what price.