Pronunciation: [fˈɪkst pɹˈa͡ɪs] (IPA) 
"Fixt price" is a rather old-fashioned spelling of "fixed price," which means a set or unchanging price. The IPA phonetic transcription of "fixed price" is /fɪkst praɪs/. The spelling "fixt" was a common way to represent the pronunciation of the past tense and past participle of the verb "fix" in some varieties of English. Nowadays, "fixed" is the standard spelling for all meanings of the word.
The term "fixed price" refers to a specific type of pricing system where the cost or value of a product, service, or asset is predetermined or unchanging. It is used to describe transactions or agreements where the price does not fluctuate with market conditions or changes in supply and demand.
In a fixed price system, the amount to be paid for a particular product or service is established in advance and remains constant throughout the duration of the transaction. This means that regardless of any changes in production costs, inflation, or other economic factors, the agreed-upon price will not be altered.
Fixed prices are commonly used in various industries such as retail, real estate, construction, and contracts for services. Examples of fixed price arrangements include purchasing a fixed price item from a store with a tag stating the cost, signing a rental agreement with a predetermined monthly rent, or entering into a contract with a construction company that guarantees a set price for the completion of a project.
The concept of fixed price provides clarity and stability to both buyers and sellers as they can accurately budget and forecast their expenses, knowing they will not be subject to unpredictable price changes. However, it also entails certain risks, particularly for the seller, as unforeseen cost increases or changes in market dynamics could potentially lead to reduced profit margins or losses.
The term "fixt price" is a variant spelling of "fixed price". The etymology of the word "fix" dates back to the Latin word "fixus", which means "fastened" or "attached". Over time, "fix" came to mean "to make fast or stable" and eventually extended to "repair" or "settle".
The word "fixed" originated in Old English as "fīxian", meaning "to attach" or "make firm". It later evolved to "fixen" in Middle English, before settling on "fix" in contemporary English.
The term "price" stems from the Latin word "pretium", meaning "value" or "worth". It entered English through Old French as "pris" and was gradually anglicized to "price" during the 13th century.
