noun phrase · academic
price transparency
/praɪs trænsˈpærənsi/price·trans·PAREN·cy
the openness and clarity with which prices and fees are presented to consumers
Examples
“Price transparency is important in sectors like banking and utilities.”
“Consumers demand greater price transparency from online platforms.”
“Improving price transparency can build trust between companies and customers.”
Band 8 sentence
“Regulators are calling for greater price transparency in the energy sector to prevent consumers from being misled by complex billing.”
Collocations
- ensure price transparency
- demand price transparency
Word family
Common mistakes
transparent price→price transparency
clear price→price transparency
Say it for a higher band
5clear price→6transparent pricing→7+price transparency
Synonyms
pricing transparency
Easily confused
hidden fees
“Customers were annoyed to find hidden fees on their bills.”
Related words
Learn this word with the rest of its set, and get reminded at the right time.
In Shopping & Money
Learn it with its set