List vs Price vs Cost?

Question

Maybe a dumb question, but I know what "Cost" is...

But what is "List" vs "Price"? in a retail market?

When someone says "Well, "List Price" is..." - what do they mean?

Answer 1

List price is usually the price listed in catelogues and brochures, but a discount is usually given off the list price if you buy in bulk. If you want just one of the item, you may not get the discount, so then list price is effectively the price you have to pay.