Updated: Aug 20, 2021

Very generally, the total amount of money that must be handed over in exchange for an article or service that is being purchased. This does not necessarily have anything to do with the value of the item.

Reference: The Penguin Business Dictionary , 3rd edt.

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James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.