“It's a good value for the price.”
You bought a cheap bottle of wine, but you were pleasantly surprised by how good it was. You write this in your review of the wine on a web site.
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 compared to how much it costs. You use it like this:
They aren't cheap, but they're a good value.
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 "___ for ___" whenever you want to compare something to other items in the same range. For example:
Sarah is tall for her age.
It was cheap for such a beautiful wedding.
You can also compare how well or badly someone does something:
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:
I don't usually shop there. Their prices are high.
"Cost", on the other hand, emphasizes how much you pay for something:
It's a fun city, but the cost of living there is so high!
So you can use both words in the same sentence to compare the "price" of something with its "cost":
The original price was $120, but it only cost me $90 because I had an employee discount.