fixed price
B2Formal to Neutral
Definition
Meaning
A price that is set and cannot be changed by negotiation, discount, or market fluctuation during a specified period.
More broadly, any predetermined, non-negotiable cost for a good or service. It can also figuratively refer to an unalterable condition or commitment.
Linguistics
Semantic Notes
A 'fixed price' emphasizes stability and predictability. It is the opposite of a variable, flexible, or negotiable price. Often implies a guarantee from the seller.
Dialectal Variation
British vs American Usage
Differences
The term is standard and nearly identical in both varieties. Minor differences exist in related phrasing (e.g., 'set price' may be slightly more common in UK informal contexts).
Connotations
Both varieties carry connotations of fairness (no haggling) but also potential inflexibility. In the US, strongly associated with retail 'fixed-price policy' vs. bargaining.
Frequency
Very high and equal frequency in business, retail, and contract contexts in both regions.
Vocabulary
Collocations
Grammar
Valency Patterns
[Product/Service] is available at a fixed price of [amount].We offer a fixed-price [contract/quote] for [service].Vocabulary
Synonyms
Strong
Neutral
Weak
Vocabulary
Antonyms
Phrases
Idioms & Phrases
- “What you see is what you get (related concept)”
- “No hidden extras (related concept)”
Usage
Context Usage
Business
Common in contracts, tenders, and service agreements to specify cost certainty (e.g., 'fixed-price development contract').
Academic
Used in economics and business studies when discussing pricing strategies and market models.
Everyday
Frequently seen in retail, restaurant menus, and service advertisements (e.g., 'fixed-price lunch menu').
Technical
Used in project management (Fixed-Price Project) and procurement to define a type of contract with cost risk borne by the seller.
Examples
By Part of Speech
adjective
British English
- The shop operates on a fixed-price basis, so bargaining isn't possible.
- We received a fixed-price quote for the roofing work.
American English
- It's a fixed-price menu at the new restaurant.
- The contractor offered a fixed-price estimate for the renovation.
Examples
By CEFR Level
- The lunch is a fixed price of ten pounds.
- All toys have a fixed price.
- The holiday is sold at a fixed price with no extra charges.
- I prefer fixed-price contracts so I know the final cost.
- The government tender required a detailed, fixed-price bid from all contractors.
- Despite inflation, the supplier honoured the fixed price agreed in the contract.
- The fixed-price mechanism insulated the client from cost overruns but transferred the risk of volatile material prices to the builder.
- Their pricing strategy shifted from variable to fixed price to attract more budget-conscious consumers.
Learning
Memory Aids
Mnemonic
Think of a price TAG that has been NAILED (fixed) to the shelf so it cannot be moved.
Conceptual Metaphor
PRICE IS AN IMMOVABLE OBJECT.
Watch out
Common Pitfalls
Translation Traps (for Russian speakers)
- Do not confuse with 'фиксированная цена' which is a direct calque and correct, but note 'твердая цена' is also common. Avoid literal 'неподвижная цена'.
- Be careful with 'fixed' as an adjective; it does not mean 'repaired' here ('fixed price' ≠ 'исправленная цена').
Common Mistakes
- Using 'fix price' (verb+noun) instead of the compound noun/adjective 'fixed price'. (Incorrect: 'They fix price.' Correct: 'They offer a fixed price.')
- Confusing 'fixed price' with 'price fixing', which is an illegal collusion between companies.
Practice
Quiz
What is the primary advantage of a fixed-price agreement for a buyer?
FAQ
Frequently Asked Questions
No, they are completely different. 'Fixed price' is a legitimate, non-negotiable set cost for a buyer. 'Price fixing' is an illegal agreement between competitors to set prices at a certain level.
Typically, it cannot change during the validity period of the offer or contract. However, it may be subject to change if the specification of the product/service changes significantly, or after the agreed period ends.
It is common for both. For products, it's standard in retail. For services (like construction, consulting), it's a key type of contract that defines who bears the risk of cost overruns.
Common opposites are 'cost-plus' or 'time and materials' contracts, where the final price depends on the actual hours/costs incurred plus a fee or margin.