expensive

Expensive is an adjective used to describe something that costs a high price relative to a particular reference point, such as a buyer's income, the prices of comparable goods, or a general standard of affordability. What counts as expensive can be subjective and vary by context, culture, and individual finances. The term often implies high cost rather than poor quality, though in many markets price and perceived value are linked through brand reputation, craftsmanship, or scarcity.

In economics, the price of an item reflects production costs, demand, competition, and perceived value. An expensive item may indicate high marginal cost, limited supply, or strong demand, and it can influence consumer choices through opportunity costs—spending on one item means forgoing others. Price sensitivity, income distribution, and inflation also affect what different households consider expensive.

Culturally, expensive goods are frequently associated with luxury, status, or exclusivity, and they can serve as signals in social interactions. Marketers may use premium pricing, aesthetic quality, or scarcity to reinforce this perception. Conversely, some items are expensive due to external factors such as taxes, tariffs, or distribution costs rather than inherent value.

Etymology: expensive derives from expense and the suffix -ive, from the verb expendere (to spend) through Latin and Norman French, entering English in the medieval period.

See also: affordable, luxury goods, pricing strategy, consumer behavior.