Price vs. Amount: What's the Difference?
Edited by Harlon Moss || By Janet White || Updated on September 28, 2023
"Price" refers to the cost of a specific product or service, usually in monetary terms. "Amount" is a more general term that signifies the quantity or total of something, often not limited to financial contexts.
Key Differences
"Price" and "Amount" are commonly used terms that, while related, have distinct meanings. The word "Price" is often used to indicate the financial cost of an item or service, usually denominated in currency. "Amount," on the other hand, serves as a broader term that describes the quantity or total of something, which could be money, time, energy, or other resources.
When discussing financial transactions, "Price" is the cost that a buyer is willing to pay for a good or service. In this context, the "Amount" could refer to the sum total that one ends up paying, which might include the price of multiple items, taxes, and other fees. Here, "Price" is specific, whereas "Amount" is cumulative.
In terms of grammar, both "Price" and "Amount" function as nouns. However, they differ in the context they are most appropriately used. "Price" is generally used in economic or retail contexts, while "Amount" has a broader applicability that extends beyond just financial settings.
To sum it up, "Price" is a term generally limited to economic or transactional scenarios and indicates a monetary cost. "Amount," conversely, is a more versatile term that can refer to totals or quantities in a multitude of contexts, not solely economic ones.
Comparison Chart
Definition
Cost of an item or service
Quantity or total
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Context of Use
Economic, retail
General
Grammatical Role
Noun
Noun
Specificity
Specific
Cumulative or general
Applicability
Monetary
Not limited to money
Price and Amount Definitions
Price
A measure of sacrifice or loss.
The price of success is hard work.
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Amount
A specific quantity or number.
A large amount of people attended the event.
Price
The cost assigned to a good or service.
The price of the phone is $400.
Amount
The sum of two or more quantities.
The amount of your purchases is $50.
Price
The rate at which a financial instrument trades.
The stock price fell today.
Amount
The final result of a calculation.
The amount calculated was incorrect.
Price
A numerical value associated with an exchange.
The price of the ticket includes a meal.
Amount
The measure of a characteristic or attribute.
The amount of effort put into the project was immense.
Price
The amount as of money or goods, asked for or given in exchange for something else.
Amount
The total of two or more quantities; the aggregate.
Price
The cost at which something is obtained
Believes that the price of success is hard work.
Amount
A number; a sum.
Price
The cost of bribing someone
Maintained that every person has a price.
Amount
A principal plus its interest, as in a loan.
Price
A reward offered for the capture or killing of a person
A felon with a price on his head.
Amount
The full effect or meaning; import.
Price
(Archaic) Value or worth.
Amount
Quantity
A great amount of intelligence.
Price
To fix or establish a price for
Shoes that are priced at sixty dollars.
Amount
To add up in number or quantity
The purchases amounted to 50 dollars.
Price
To find out the price of
Spent the day pricing dresses.
Amount
To add up in import or effect
That plan will never amount to anything.
Price
The cost required to gain possession of something.
Amount
To be equivalent or tantamount
Accusations that amount to an indictment.
Price
The cost of an action or deed.
I paid a high price for my folly.
Amount
The total, aggregate or sum of material not applicable to discrete numbers or units or items in standard English.
The amount of atmospheric pollution threatens a health crisis.
Price
Value; estimation; excellence; worth.
Amount
A quantity or volume.
Pour a small amount of water into the dish.
The dogs need different amounts of food.
Price
(transitive) To determine the monetary value of (an item); to put a price on.
Amount
The number (the sum) of elements in a set.
Price
To pay the price of; to make reparation for.
Amount
To total or evaluate.
It amounts to three dollars and change.
Price
To set a price on; to value; to prize.
Amount
To be the same as or equivalent to.
He was a pretty good student, but never amounted to much professionally.
His response amounted to gross insubordination
Price
To ask the price of.
To price eggs
Amount
To go up; to ascend.
Price
The sum or amount of money at which a thing is valued, or the value which a seller sets on his goods in market; that for which something is bought or sold, or offered for sale; equivalent in money or other means of exchange; current value or rate paid or demanded in market or in barter; cost.
We can afford no more at such a price.
Amount
To go up; to ascend.
So up he rose, and thence amounted straight.
Price
Value; estimation; excellence; worth.
Her price is far above rubies.
New treasures still, of countless price.
Amount
To rise or reach by an accumulation of particular sums or quantities; to come (to) in the aggregate or whole; - with to or unto.
Price
Reward; recompense; as, the price of industry.
'T is the price of toil,The knave deserves it when he tills the soil.
Amount
To rise, reach, or extend in effect, substance, or influence; to be equivalent; to come practically (to); as, the testimony amounts to very little.
Price
To pay the price of.
With thine own blood to price his blood.
Amount
To signify; to amount to.
Price
To set a price on; to value. See Prize.
Amount
The sum total of two or more sums or quantities; the aggregate; the whole quantity; a totality; as, the amount of 7 and 9 is 16; the amount of a bill; the amount of this year's revenue.
Price
To ask the price of; as, to price eggs.
Amount
The effect, substance, value, significance, or result; the sum; as, the amount of the testimony is this.
The whole amount of that enormous fame.
Price
The amount of money needed to purchase something;
The price of gasoline
He got his new car on excellent terms
How much is the damage?
Amount
How much of something is available;
An adequate amount of food for four people
Price
The property of having material worth (often indicated by the amount of money something would bring if sold);
The fluctuating monetary value of gold and silver
He puts a high price on his services
He couldn't calculate the cost of the collection
Amount
A quantity of money;
He borrowed a large sum
The amount he had in cash was insufficient
Price
Value measured by what must be given or done or undergone to obtain something;
The cost in human life was enormous
The price of success is hard work
What price glory?
Amount
How much there is of something that you can quantify
Price
The high value or worth of something;
Her price is far above rubies
Amount
A quantity obtained by addition
Price
A reward for helping to catch a criminal;
The cattle thief has a price on his head
Amount
Be tantamount or equivalent to;
Her action amounted to a rebellion
Price
Cost of bribing someone;
They say that every politician has a price
Amount
Add up in number or quantity;
The bills amounted to $2,000
The bill came to $2,000
Price
United States operatic soprano (born 1927)
Amount
Develop into;
This idea will never amount to anything
Nothing came of his grandiose plans
Price
Determine the price of;
The grocer priced his wares high
Amount
The total sum or quantity.
The amount of food was overwhelming.
Price
Ascertain or learn the price of;
Have you priced personal computers lately?
Price
The amount of money required for a transaction.
The price for the service was reasonable.
FAQs
Are both Price and Amount nouns?
Yes, both are nouns.
What does Amount mean?
"Amount" refers to the total or quantity of something, not limited to monetary contexts.
What does Price mean?
"Price" refers to the cost of an item or service in monetary terms.
Is Amount only used in financial settings?
No, it is a broader term that can be used in various contexts.
Where is Price most commonly used?
In economic, retail, and financial settings.
Is Price always about money?
Generally, yes, but it can also metaphorically refer to sacrifice or loss.
Can Price and Amount be interchangeable?
Generally not, as they refer to different concepts.
Can Price refer to a value in a market?
Yes, as in stock prices.
Is Price subjective?
It can be, as market forces often determine it.
Is Amount objective?
Generally yes, it's a quantifiable measure.
Is Price more specific than Amount?
Yes, "Price" usually refers to a specific cost, while "Amount" can be more general.
Where can Amount be used?
In a variety of contexts, including finance, quantity, and measurement.
Can Amount refer to a collective sum?
Yes, it often refers to the total of various quantities.
Do Price and Amount have synonyms?
Yes, cost, rate for Price; total, sum for Amount.
Can Price and Amount be used in negative forms?
Yes, as in "priceless" or "no amount of money."
About Author
Written by
Janet WhiteJanet White has been an esteemed writer and blogger for Difference Wiki. Holding a Master's degree in Science and Medical Journalism from the prestigious Boston University, she has consistently demonstrated her expertise and passion for her field. When she's not immersed in her work, Janet relishes her time exercising, delving into a good book, and cherishing moments with friends and family.
Edited by
Harlon MossHarlon is a seasoned quality moderator and accomplished content writer for Difference Wiki. An alumnus of the prestigious University of California, he earned his degree in Computer Science. Leveraging his academic background, Harlon brings a meticulous and informed perspective to his work, ensuring content accuracy and excellence.
