ASKED PRICE Meaning and
Definition
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The term "asked price" refers to the specific amount of money that a seller requests from a potential buyer for a particular product, service, or asset. It is the initial price set by the seller, which serves as a starting point for negotiations during a buying and selling transaction.
When an individual or a company decides to sell an item or offer a service, they typically establish an asked price that they believe represents the value of the product or service being offered. The asked price is often influenced by various factors, such as the cost of production, market demand, competition, and overall perceived value.
During a negotiation process, the asked price acts as a reference point from which both parties can begin discussing and considering potential adjustments. The buyer may choose to accept the asked price, reject it outright, or propose a counteroffer. Likewise, the seller may choose to revise their asked price based on the buyer's offer or negotiate further.
The difference between the asked price and the final agreed-upon price is known as the "selling price" or "transaction price." In some cases, the selling price may be equal to the asked price if both parties agree to the original amount.
Ultimately, the asked price plays a crucial role in the buying and selling process, as it sets the stage for negotiation and determines the starting point of a potential transaction.
Common Misspellings for ASKED PRICE
- zsked price
- ssked price
- wsked price
- qsked price
- aaked price
- azked price
- axked price
- adked price
- aeked price
- awked price
- asjed price
- asmed price
- asled price
- asoed price
- asied price
- askwd price
- asksd price
- askdd price
- askrd price
- ask4d price
Etymology of ASKED PRICE
The etymology of the term "asked price" can be understood by examining the origins of its individual components.
The verb "ask" comes from the Old English word "ascian", which means to request or inquire. It further traces back to the Proto-Germanic root "*aiskojan" and the Proto-Indo-European root "*ais-", both conveying the idea of seeking or desiring. Over time, the word "ask" in English developed its specific meaning of seeking information or making a request.
The word "price" has a more complex etymology. It comes from the Middle English word "prys" or "prise", which derived from the Old French "pris" meaning value or worth. This Old French term ultimately originated from the Late Latin word "precium", which translates to worth or value.
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