The cost of a thing is all that has been expended upon it, whether in discovery, production, refinement, decoration, transportation, or otherwise, to more..The cost of a thing is all that has been expended upon it, whether in discovery, production, refinement, decoration, transportation, or otherwise, to bring it to its present condition in the hands of its present possessor; the price of a thing is what the seller asks for it. In regular business, as a rule, the seller's price on his wares must be more than their cost to him; when goods are sold, the price the buyer has paid becomes their cost to himself. In exceptional cases, when goods are sold at cost, the seller's price is made the same as the cost of the goods to him, the cost to the seller and the cost to the buyer becoming then identical. Price always implies that an article is for sale; what a man will not sell he declines to put a price on; hence the significance of the taunting proverb that "every man has his price." Value is the estimated equivalent for an article, whether the article is for sale or not; the market value is what it would bring if exposed for sale in the open market; the intrinsic value is the inherent utility of the article considered by itself alone; the market value of an old and rare volume may be very great, while its intrinsic value may be practically nothing. Value has always more reference to others' estimation (literally, what the thing will avail with others) than worth, which regards the thing in and by itself; thus, intrinsic value is a weaker expression than intrinsic worth. Charge has especial reference to services, expense to minor outlays; as, the charges of a lawyer or physician; traveling expenses; household expenses.(noun)
