Price vs Prize: Cost or Reward?

Price and prize differ by one sound and one letter, but their meanings are unrelated. A price is what something costs; a prize is something awarded to a winner or for an achievement.

Price = cost

Use price for the amount of money required to buy something or for the general level of costs.

• What is the price of the course?
• House prices have increased.
• The ticket is reasonably priced.

Prize = reward

Use prize for an award given in a competition, game, lottery, or recognition programme.

• She won first prize.
• The prize is a scholarship.
• He received a literary prize.

Pronunciation helps

Price ends with /s/, while prize ends with /z/. Training the final sound can help you keep spelling and meaning separate.

• price /praɪs/
• prize /praɪz/

Useful combinations

Collocations reinforce the distinction.

• high/low/reasonable price
• price increase / price range
• win/award/receive a prize
• first prize / cash prize

Common mistakes to avoid

• I won a price → I won a prize.
• The prize of the hotel is high → The price of the hotel is high.

Quick practice

1. Choose: “The ___ includes free delivery.”
2. Choose: “She received a ___ for best presentation.”
3. Say both words aloud and notice the final consonant.

Suggested answers: 1. price; 2. prize; 3. price /s/, prize /z/.

Key takeaway

Connect the word to a strong association: price = pay; prize = winner.