priceprice1 /praɪs/ ●●●S1W1 noun1[countable, uncountable]BBTCOST the amount of money you have to pay for somethingprice ofThe price of fuel keeps going up.price forWe 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 cost2UNPLEASANT[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 ofHe’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 priceat cheap1(8), → name your priceat name2(7), → pay the priceat 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.
priceprice2 ●●○ verb [transitive]1BBTto decide the price of something that is for salea reasonably priced apartmentbe priced at somethingTickets are priced at £75 each. Grammar Price is usually passive in this meaning.2BBTCOSTto put the price on goods to show how much they cost3COMPAREto compare the prices of thingsWe spent Saturday morning pricing microwaves.4 →price yourself out of the marketCOLLOCATIONSadverbshighly priced (=expensive)The clothes shops all seemed to be full of highly priced designer clothes.reasonably priced (=not too expensive)The food was good and reasonably priced.moderately priced (=not expensive)On the outskirts of many towns, you will find moderately priced motels.competitively/keenly priced (=not expensive compared with similar things)Lower costs meant that Japanese exports remained competitively priced.modestly priced (=cheap)There are some very modestly priced artificial plants to be had.attractively priced (=not expensive)These figurines are attractively priced at £32.→ See Verb table