fixed-price
Meaning
Having a price that has been set and will not change.
Structure
Usage
The contractor offered a fixed-price quote for the home renovation.
We prefer fixed-price contracts to avoid unexpected cost overruns.
The menu features a fixed-price dinner option with three courses.
Etymology
The compound adjective 'fixed-price' is a modern, transparent construction built from two deeply rooted English words. 'Fixed' originates from the Latin verb figere, meaning 'to fasten or attach', which evolved through Old French to signify something made stable, permanent, or unchanging. 'Price' descends from the Latin pretium, a term for value, reward, or monetary cost, entering English via Norman French. The logic of the compound is direct and commercial: it describes a cost that has been 'fastened' or secured, preventing the fluctuation typical of negotiated or market-driven pricing, thereby offering certainty to both buyer and seller.
Analysis
- fixed: From Latin fixus (past participle of figere, meaning 'to fasten, attach'). In this compound, it functions as an adjective meaning 'set, established, not subject to change'. - price: From Old French pris, from Latin pretium (meaning 'value, worth, money'). In this compound, it functions as a noun meaning 'the amount of money expected, required, or given for something'.