You bought a cheap bottle of wine, but you were pleasantly surprised by how good it was. You are writing a review of the wine on a web site. You write:
It's a good value for the price.
"Value" is a quality that means the amount of use or enjoyment that you get from something. "Value" is similar to "price" in some ways. But the "price" of something means how much it actually costs, while the "value" means something closer to the "real" worth.
When something is "a good value", it means that its value is high.
When you say that something is "good for the price", it means that it's better than other things that have a similar price, even though there are better ones that cost more.
In the same way, you can say that something is good "for ___" whenever you want to compare something to other items in the same range. For example:
Sarah is pretty tall for her age.
You speak Korean well for an American.
The words "price" and "cost" are very close in meaning, but there are slight differences. "Price" emphasizes how much the seller has decided to charge for something. "Cost", on the other hand, emphasizes how much you paid for something. So you can say something like this:
The original price was $120, but it only cost me $90 because I had an employee discount.
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