noun
1
BAD : The price of keeping a person in prison for a year is enormous.
GOOD : The cost of keeping a person in prison for a year is enormous.
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PRICE · COST · COSTS · CHARGE · FEE · RATE · RENTAL · FARE · RENT
Price The price of something is the amount of money that you must pay in order to buy it: ‘I’m interested in the car, but the price is too high.’ ‘Food prices are relatively low at present.’
Cost The cost of something is the amount of money you must pay to buy, do, make or use it: ‘the cost of having the car repaired was £340.’
The cost of living (fixed phrase) = the general amount that the people living in a particular area or country have to pay for necessary goods and services: ‘In urban areas the cost of living tends to be higher.’
Costs Your costs are the total amount of money you spend over a period of time in order to make or produce something, or continue an activity: ‘Our costs have doubled over the last five years as a result of the increase in oil prices.’
Charge A charge is the amount of money that you must pay for a service or to be allowed to use something: ‘The waiter explained that the bill included a 10% service charge.’ ‘There is also a small charge for delivery and installation.’
If you do not have to pay for something, it is provided free of charge : ‘The company has offered to install the software free of charge.’
Fee A fee is 1 a charge that you must pay to be allowed to do something: ‘Most art galleries charge an entrance fee.’ ‘Every new student has to pay a registration fee.’ 2 (usually fees) a charge that you must pay for professional services such as those provided by doctors, lawyers, consultants, tutors, schools etc: ‘My parents couldn’t afford the school fees.’ ‘Last year alone, the company paid over $12 million in legal fees.’
Rate A rate is the amount of money that you have to pay for a service or for hiring something, especially one that is calculated on an hourly, weekly or monthly basis: ‘His hourly rate is £60.’ ‘For a five-star hotel, the rates are very reasonable.’
See also CHEAP 1 (↑ cheap )
Fare a fare is the cost of a journey on a buss, train etc: ‘How much is the train fare from Toronto to Montreal?’ ‘She spends $20 per week on bus fares.’
Rent is the money you pay every week or month to live in or use a places that doesn’t belong to you: ‘The rent is £500 inclusive of bills.’
2
See CHEAP 1 (↑ cheap )