• Welcome to PlumbersForums.net - The international plumbing advice forum. Professional plumbers sharing advice with fellow plumbers and DIY alike. Register for free today!


In ordinary usage, price is the quantity of payment or compensation given by one party to another in return for goods or services.
In modern economies, prices are generally expressed in units of some form of currency. (For commodities, they are expressed as currency per unit weight of the commodity, e.g. euros per kilogram.) Although prices could be quoted as quantities of other goods or services this sort of barter exchange is rarely seen. Prices are sometimes quoted in terms of vouchers such as trading stamps and air miles. In some circumstances, cigarettes have been used as currency, for example in prisons, in times of hyperinflation, and in some places during World War 2. In a black market economy, barter is also relatively common.
In many financial transactions, it is customary to quote prices in other ways. The most obvious example is in pricing a loan, when the cost will be expressed as the percentage rate of interest. The total amount of interest payable depends upon credit risk, the loan amount and the period of the loan. Other examples can be found in pricing financial derivatives and other financial assets. For instance the price of inflation-linked government securities in several countries is quoted as the actual price divided by a factor representing inflation since the security was issued.
Price sometimes refers to the quantity of payment requested by a seller of goods or services, rather than the eventual payment amount. This requested amount is often called the asking price or selling price, while the actual payment may be called the transaction price or traded price. Likewise, the bid price or buying price is the quantity of payment offered by a buyer of goods or services, although this meaning is more common in asset or financial markets than in consumer markets.
Economists sometimes define price more generally as the ratio of the quantities of goods that are exchanged for each other.
Price theory Economic theory asserts that in a free market economy the market price reflects interaction between supply and demand: the price is set so as to equate the quantity being supplied and that being demanded. In turn these quantities are determined by the marginal utility of the asset to different buyers and to different sellers. In reality, the price may be distorted by other factors, such as tax and other government regulations.
When a commodity is for sale at multiple locations, the law of one price is generally believed to hold. This essentially states that the cost difference between the locations cannot be greater than that representing shipping, taxes, other distribution costs and more. In the case of the majority of consumer goods and services, distribution costs are quite a high proportion of the overall price, so the law may not be very useful.

View More On Wikipedia.org
  1. CorgiDirect

    Excellent Prices on CORGI Chemicals. 1LT Inhibitor & Cleansers Only £3.75 ex vat

    Excellent Prices on CORGI Chemicals. CORGI 1LT SYSTEM INHIBITOR only £3.75 ex vat CORGI 1LT SYSTEM CLEANSER only £3.75 ex vat. View the CORGI Chemicals here
  2. J

    Plumbing prices and call out charge

    how much to plumbers charge per hour these days I’m doing my nvq and eventually want to go self employed. How much is the going rate per hour and how much is call out charge these days ? Any help would me much appreciated
  3. S

    Plumbing fittings prices

    Hi I would like to start selling plumbing articles but I do not know exactly the prices in England. Is anyone this forum can tell me these wholesale prices are attractive on this market? Brass nipple 1/2' – 0,41£ 1'- 1,45£ MDPE coupler 32-2,15£ Thank you for your help
  4. M

    Scrap copper prices to go up or down?

    Any thoughts on the current scrap copper prices? It seems to be falling again? Saw clean copper at 3.70 a kg. A few weeks back
  5. R

    Doubting myself , raised prices and am I now over charging

    Hi, i either need a confidence boost or to be put straight on what I'm charging . I raised my prices last year, as overheads were increasing and I wanted to take a bigger profit to re invest in myself,and was doing ok through the winter, but since xmas I'm losing more jobs than winning , and...
  6. J

    Thermostatic showers

    Hi All, I'm new to the forum but in the middle of planning a total refurb of our bathroom and have noticed something that is causing me a little confusion and am hoping someone here can shed some light on my deliberations. Part of the plan is to replace the bath with an offset quad shower...
  7. G

    Best place to buy?

    Who offers the best prices on, well, everything. Just tried to set up an account with City Plumbing and I've been told I need a utility bill which I don't have (still live at home). I don't even know if there prices are any good. Right now I need to buy some radiators. Anyone know a good...
  8. N

    Unvented Indirect Cylinder Installation Cost

    We have moved into a house where the water pressure is variable. The cold taps are fine but the hot in the kitchen and the shower in the ensuite are very poor. A plumber we spoke to suggested we replace the current cylinder with an indirect unvented cylinder. We got a quote and was quite...
  9. C


    Hi guys I run a small heating and plumbing company and would like to know what software or what methods people use to work out the profitability on each job? I'm sure we all do many jobs a day so looking for the simplest method? I have a few ideas just wandering what others use. thanks everyone.
  10. S

    New boiler advice for 3 bedroom home

    Please can some experts advice me on boiler replacement size for a regular size 3 bedroom home feeding 7 radiators. The boiler will be fitted inside a kitchen cabinet with rear flu out the back. The boiler Ive been looking at is the glow worm flexicom 24hx. Please could anybody advise me if the...
  11. D

    My Builder??

    I've just signed up to my builder has anybody had any good or bad experiences with them or is there any similar sites people have found better?? Would appreciate some info just starting out on my own Thank you
  12. buckley plumb

    plastic pipe and fittings

    hi has anyone tried wunda trade online - customer of mine ordered from here and prices were good the fittings very similar to hep Wunda Trade | Premium Quality Plumbing Supplies
  13. J

    New build prices

    Anyone have a current list of prices on a new build site?
  14. H

    job pricing

    I would just like to know what people would roughly charge for labour on the following as iv just lost a job through pricing A bathroom swap without changing positions and then retiling of 8m²... Includes a difficult window frame Just rough prices and I'll then give my price Thanks
  15. J

    solar thermal hot water

    Hello to all just need to ask have you got to be city and guilds in solar thermal to fit it???? All can any plumber install it if he knows about them
  16. J

    New build price work

    What are the going rates for 2nd fix on new build price work?
  17. Keefy

    Displaying charges on your website

    Do any of you who have website's display your charges/prices/rates? I'm considering displaying the basic prices for each service with a generic note that additional work will be charged accordingly. Like to hear what your thoughts are on the pro's and con's of doing this.
  18. S

    Quick question regarding difference in pay

    Have only been on a pay monthly basis since I was 16. I'm now moving onto 6 months of 'price work'. Can someone give me a brief explanation of how this works? Much appreciated thank you

Forum Sponsors

Corgi - Plumbing Supplies for Professional Plumbers - Plumb Advice

Plumbase - Plumbing Parts for Plumbers - Plumbers Advice

Power Shower Booster for Power Showers - Plumbing Advice

Underflor Heating Systems by uHeat - Plumbing Advice

Wetroom Supplies by Wetroom Store

Nicobond - Wetroom and Tiling Supplies - Plumbers Installation Advice

Corgi - Plumbing Supplies for Professional Plumbers - Advice for Plumbers

Do you have a DAB radio for work?

  • Yes

  • No

Results are only viewable after voting.
Top Bottom