:For people whose family name is Price see Price (disambiguation).In economics and business, the price is the assigned numerical monetary value of a good, service or asset. The concept of price is central to microeconomics where it is one of the most important variables in resource allocation theory (also called price theory). Price is also central to marketing where it is one of the four variables in the marketing mix that business people use to develop a marketing plan.
Historically, price value has superseded the barter value of pre-monetary systems, in which bartering was used to determine a value of a good or service. Economists, strictly speaking, view price as an exchange ratio between goods. Thus it exists also in a barter system. From this point of view, price is akin to opportunity cost, that is, what you have to give up in exchange for the good or service that you are purchasing.
The price of an item is also called the price point, especially where it refers to stores that set a limited number of price points. For example, Dollar GeneralDollar General is a chain of limited-selection consumable retail stores operating in 30 U. Founded in 1955 the chain operates more than 7000 stores. The stores are typically in small shopping plazas or strip malls in local neighborhoods. Dollar General mi is a general storeA general store is usually a retailer located in a small town or in a rural area with a wide selection of merchandise. General stores often sell important food items such as milk and bread, and various breakfast items. The concept of the general store is or " five and dimeFive and dime was a common nickname in the United States for five-and-ten-cent stores (also called 5 and 10 s), popular in the early to mid-20th century. These stores originally featured merchandise priced at only five cents or ten cents, although later i" store that sets price points only at even amounts, such as exactly one, two, three, five, or ten dollarAlternate uses: Dollar (disambiguation The dollar is the name of the official currency in several countries, dependencies and other regions (see list below). It is represented by the symbol . The name is related to the historic currencies Tolar in Bohemias (among others). Other stores (such as dollar storeA dollar store is a store that sells inexpensive items for one dollar each. A very popular concept throughout the world, the stores usually sell everything from cleaning supplies to children's toys. Many products sold in such stores are not in brand name.s, poundAs a unit of currency, the term pound originates from the value of a Troy pound weight ( Latin libra , of high purity silver, and is the currency unit of a number of countries: Cyprus see Cyprus Pound Egypt Gibraltar Lebanon Malta Syria see Syrian pound U stores, euroThe euro ISO 4217 code EUR is the currency of twelve of the twenty-five nations that form the European Union (and four outside it, as well as Montenegro and Kosovo), which form the Economic and Monetary Union (EMU). It is the result of the most significan stores, 100- yenNatsume Soseki. New yen notes will enter circulation, replacing these, on November 1, 2004. Yen is the currency used in Japan. In Japanese it is usually pronounced "en", but the pronunciation "yen" is standard in English. The ISO 4217 codes for the yen ar stores, and so forth) only have a single price point (1$, 1£, 1€, 100¥), though in some cases this may get more than one of some very small items.
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