LOWEST PRICE Meaning and
Definition
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Lowest price is a term used in the context of pricing and sales to refer to the minimum possible cost at which a product, service, or commodity is offered for purchase. It represents the absolute bottom value at which an item can be obtained, indicating the least expensive option available in a given market or for a specific item.
The lowest price is a significant factor for individuals and businesses who aim to minimize their expenses and get the best value for their money. It signifies the most economical option, often attracting consumers seeking affordability and cost-savings. Vendors and retailers may strategically set low prices to entice customers, gain a competitive edge, or capture a larger market share.
The determination of the lowest price can vary depending on several factors, such as supply and demand dynamics, competition levels, production costs, and market conditions. It can also be influenced by promotions, discounts, or seasonal sales events. Consumers often compare prices across different sellers and channels to ensure they are securing the lowest available price before making a purchase decision.
While the lowest price may be appealing, it is important for consumers to consider other aspects such as product quality, warranty, after-sales service, and seller credibility. Sometimes, excessively low prices may be suggestive of counterfeit or substandard products. Therefore, buyers should exercise caution and conduct research to ensure that the lowest-priced option aligns with their requirements and provides satisfactory value for their investment.
Common Misspellings for LOWEST PRICE
- kowest price
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Etymology of LOWEST PRICE
The word "lowest" primarily originated from the Old English word "lætst", which meant "farthest from the starting point" or "farthest down", derived from the Proto-Germanic word "latistaz". Over time, "lætst" evolved into "lowest" with similar meaning.
The word "price" came from the Old English word "prīs", meaning "value" or "price", which originated from the Latin word "pretium" with the same meaning. "Pretium" also gave rise to words like "appraise" and "appraisal".
So, the term "lowest price" combines these two etymologies, implying the value or cost that is farthest down or at the bottom in comparison to other prices.
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