Definition, Meaning & Synonyms
comparable-price
noun
kəmˈpɛrəbl praɪs
Definition
A price that can be compared to another price for the same product or service in order to determine its relative value.
Examples
- The comparable-price of the new smartphone is lower than that of its main competitor.
- Before making a purchase, it is wise to check the comparable-price of the item at various retailers.
- Real estate agents often look at the comparable-prices of similar houses in the neighborhood to determine fair market value.
Meaning
The term ‘comparable-price’ refers to the idea of evaluating the price of an item by comparing it to prices of similar items in the market.
Synonyms
- Comparable cost
- Relative price
- Market price
