English Lexicon

Fixed-price

/ˈfɪkst.praɪs/
adjectivenounCEFR B2 (Upper)Top #4500 frequency
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Comprehensive Definitions & Senses

2 senses
As adjective
  1. 1

    Describing a system or agreement where the price of a good or service is firmly set and cannot be bargained or changed.

    "The restaurant operates on a fixed-price menu for its evening course meals."
As noun
  1. 1

    A set cost that is non-negotiable in a transaction.

    "We agreed on a fixed-price for the entire home renovation project."

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Antonyms & Contrasting Words (1)

Linguistic Origin & Historical Etymology

The term is a combination of 'fixed', originating from Middle English via Old French and Latin (figere, meaning to fasten or establish), and 'price', derived from Old French (pris, from Latin pretium, meaning worth or reward). It emerged in commercial contexts to denote transactions where the cost is permanently established beforehand without room for negotiation.

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