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These two words are used to tell us how much things are worth in this world of commerce,
where everything is valued by its price and cost. To help you use these words correctly;
we want to give you a hint. |
Price is a noun. It is an amount of money for which something is bought or sold.
For example:
I can't afford it at that price.
He sold the house at a very good price.
Cost is a price to be paid for something.
For example:
She built her house without regard to costs.
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It can be a verb. As a verb, it means to be obtainable at a price of; or require a payment of.
For example:
These chairs cost 1,000 baht each.
It costs a lot to buy a nice house. |
As you can see, the noun forms of both words have pretty much the same
meaning and sometimes can easily be replaced by the other without any confusion.
However, cost has its verb form and you might get confused, so be careful. Other related words are
Value means worth of something in terms of money or other goods for
which it can be exchanged.
a decline in the value of baht currency
Value, as a verb, means to estimate the money value of something or to admire something.
Worth is an adjective meaning having a certain value, emotional or material.
My house is worth one million.
(NOTE
worth is an adjective so it's used with verb to be.)
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Exercise: Price/ Cost/ Value/ Worth |
| Directions: Decide which word will best suit the context. Choose the correct answers. |
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 1. This dress has no ______ tag on it. Let's ask the shop assistant how much it 2. _____. |
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price |
costs |
value |
worth |
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price |
costs |
value |
worth |
| 3. Wealth is ______ in any society. |
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priced |
cost |
valued |
worth |
| 4. Your promise has no ______ over cash. |
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price |
cost |
value |
worth |
| 5. It ____ me a fortune to get that car fixed. |
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price |
cost |
value |
worth |
| 6. His collection is _____ over a million dollars in auction. |
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price |
cost |
value |
worth |
| 7. You cannot put a ______ on friendship, but it is of great 8. _____. |
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price |
cost |
value |
worth |
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price |
cost |
value |
worth |
| 9. This house is not much in ______ but it is 10. ______ a lot to me. |
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price |
cost |
value |
worth |
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price |
cost |
value |
worth |
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Answers |
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