PURCHASE PRICE Meaning and
Definition
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Purchase price is a financial term used to describe the amount of money paid or agreed upon to acquire a specific item, property, or asset. It is the monetary value assigned to the purchase of a product or service, including any associated costs, expenses, or taxes that are part of the transaction.
In the context of a retail environment, the purchase price refers to the cost paid by a consumer to buy a product or service from a seller. This includes any applicable sales taxes, delivery charges, or other fees that may be associated with the purchase. The purchase price is of particular significance in analyzing consumer behavior and market trends, as it directly affects consumers' decisions and overall demand for a given product or service.
In the realm of real estate, the purchase price represents the amount of money that the buyer agrees to pay to the seller in exchange for a property. The purchase price typically includes the market value of the property as well as any additional costs such as closing costs, loan fees, or legal expenses. It is a crucial factor in the negotiation process and serves as the basis for calculating mortgage payments, tax assessments, and potential returns on investment.
Overall, the purchase price is a fundamental concept in commerce and economics, encompassing the full value of acquiring an item, property, or asset, and accounting for all associated costs and expenses.
Top Common Misspellings for PURCHASE PRICE *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for PURCHASE PRICE
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Etymology of PURCHASE PRICE
The term "purchase price" originated from Middle English and has its etymological roots in Old French. The word "purchase" comes from the Old French word "pourchacier", which means "to seek or acquire". "Price" comes from the Old French word "pris", meaning "value, worth, or reward". Over time, these two words merged to form the compound term "purchase price", referring to the amount of money required to acquire something.
Similar spelling words for PURCHASE PRICE
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