The monetary value of something is called price.
Price , from the Latin pretĭum , is the monetary value assigned to something . All 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 pair of pants is 100 dollars, the person who wants to buy them 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. The cable television service can have a price of 2000 pesos per month, among other cases.
What is the price
Price, at a conceptual level, expresses the value of the product or service in monetary terms . Raw materials, production time, technological investment and market competition are some of the factors that affect price formation.
It is important to keep in mind that the price also includes intangible values , such as the brand . A shirt made with identical materials can have very different prices depending on the brand, since the consumer acquires various symbolic values with it.
Likewise 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 used to refer to monetary consideration.
Prices may vary due to different factors.
Inflation and deflation
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 through 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. .
Other uses of the term price
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 to succeed in the professional world: he had a heart attack due to stress.” .
Nor should we overlook that the term in question is usually 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 value for his wisdom, his knowing how to be, his tolerance and his generosity.”
And, of course, we cannot ignore that colloquially we use a series of expressions that include the word price. This would be the case, for example, of “having no price.” With this verbal phrase what we 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 increase in the value of something specific has taken place.