difference between price and value
Thatâs unfortunate, but shows that he, along with millions of others, does not understand the difference between price and value. What is Price? Price is what you pay for a given product or service. You buy a book that costs $14.95. Itâs cost is $14.95. You decide to have your car detailed before you sell it. This costs you $80. Itâs price is $80. Simple as that. What is Value? Value is what any given product or service is worth. If the book you bought inspires you to invent a new product that you sell for $50. Itâs value is $50 multiplied by the number of products you sell. If detailing your car encourages a buyer to spend an extra $500, the value of that service is not $80, but $500. Price is the amount you pay.