Price and cost are not the same thing. I address these two similar-but-different perceptions in business often. “Price” can be a seller’s decision about the value of his product or service, or it can be what the buyer chooses to pay for a product or service. “Cost” can be the amount in resources needed to create a product or perform a service, or it can be an outcome of having purchased a product or service. There are emotional connotations attached to both words.