overnice etymology

Etymology

The word "overprice" is derived from two English words:

• Over: Meaning "exceeding" or "more than"
• Price: Meaning the monetary value of something

Meaning and Origin

Overprice is a verb or noun that refers to the act of setting a price that is significantly higher than the reasonable or fair market value of a good or service. This can occur in various contexts, such as in retail, property, or other commercial transactions.

The term has its origins in the early 1900s, when it was used to describe merchants who charged excessive prices for goods or services during periods of high demand or shortage. Overpricing often occurs when sellers take advantage of a lack of competition or consumer knowledge to maximize their profits.

Examples

• A store overprices its clothing by marking it up 50% above the average market price.
• A landlord overprices an apartment by charging $2,000 per month when similar apartments in the area rent for $1,500.
• A contractor overprices a construction project by adding unnecessary expenses or inflating labor costs.

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