Price and Cost
Incorrect : What is the cost of this watch?
Correct: What is the price of this watch?
Incorrect : The price of living now is very high.
Correct . The cost of living now is very high.
Note : Price is the amount of money you need to buy a particular object. Cost is like price but is used less for objects and more for services or general things. However, when you use cost as a verb, you can say :
How much does this watch cost?
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