Price

Price is the amount of money expected, required, or given in payment for something. In business terms, price is the amount a customer is willing to pay for a product or service. The difference between the price paid and costs incurred is profit. If a customer pays $10 for a product that costs $6 to make and sell, the company earns $4 in profit.

See Also

• Business Value
• Strategy
• IT Strategic Plan (Information Technology Strategic Plan)
• IT Sourcing (Information Technology Sourcing)
• IT Operations (Information Technology Operations)