minimum price
nounUK /ˈmɪnɪməm praɪs/
US /ˈmɪnɪməm praɪs/
The smallest amount of money you are allowed to pay for something.
The store set a minimum price of five dollars for each toy.
RELATED WORDS
OTHER MEANINGS
2. The lowest amount a seller is willing to accept for a product.
The farmer's minimum price for a basket of apples was ten dollars.
3. A legal limit below which a product may not be sold.
The government set a minimum price on milk to help farmers.
4. The smallest bid allowed in an auction.
The auction's minimum price for the painting was one hundred dollars.