# Prize

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> Source: https://en.wikipedia.org/wiki/Prize
> Source revision: 1254721673
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{{Short description|Award given to recognise or reward actions}}
{{other uses}}
[[File:Mall culture jakarta59.jpg|thumb|A [car](/source/car) prize at a [shopping mall](/source/shopping_mall) in [Indonesia](/source/Indonesia)]]
[[File:Skate Contest Prize Skate4Changes.jpg|thumb|Skateboarders excited to receive a free [skateboard deck](/source/skateboard_deck) as a prize at a [skate contest](/source/skate_contest), 2021]]
A '''prize''' is an award to be given to a person or a group of people (such as sporting teams and organizations) to recognize and reward their actions and achievements.<ref name=free>[http://www.thefreedictionary.com/prize Prize], definition 1, The Free Dictionary, Farlex, Inc. Retrieved August 7, 2009.</ref> Official prizes often involve [monetary rewards](/source/money) as well as the fame that comes with them. Some prizes are also associated with extravagant awarding ceremonies, such as the [Academy Award](/source/Academy_Award)s.

Prizes are also given to publicize noteworthy or exemplary behaviour, and to provide incentives for improved outcomes and competitive efforts. In general, prizes are regarded in a positive light,<ref name=free/> and their winners are admired. However, many  prizes, especially the more famous ones, have often caused controversy and jealousy.

Specific types of prizes include:
* [Booby prize](/source/Booby_prize): typically awarded as a joke or insult to whoever finished last (e.g., [wooden spoon award](/source/wooden_spoon_(award))).
* Consolation prize: an award given to those who do not win but are deemed worthy of recognition.
* Hierarchical prizes, where the best award is "first prize", "grand prize", or "[gold medal](/source/gold_medal)". [Subordinate](/source/Subordinate) awards are "second prize", "third prize", etc., or "first runner-up" and "second runner-up", etc., or "[silver medal](/source/silver_medal)" and "[bronze medal](/source/bronze_medal)". (In some contests, "grand prize" is more desirable than "first prize".)
**On game shows in the UK, the term is "star prize", while in Australia, it is "major prize".
* ''Purchase prize'' or acquisition prize: a monetary prize given in an art competition in exchange for the winning work.
* Winnings from an [inducement prize contest](/source/inducement_prize_contest), usually a reward for accomplishing a specific feat of use to the sponsor or society at large

==See also==
<!-- Please respect alphabetical order -->
* [Award](/source/Award)
* [Medal](/source/Medal)
* [Prize (law)](/source/Prize_(law))
* [Prize money](/source/Prize_money), monetary award that is given to someone after they have won a competition.
* [Prizes named after people](/source/Prizes_named_after_people)
* [Repechage](/source/Repechage)

==References==
{{reflist}}

==External links==
{{wiktionary|prize}}
{{commonscatinline|Prizes}}

{{Orders and phaleristics}}

Category:Awards

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Adapted from the Wikipedia article [Prize](https://en.wikipedia.org/wiki/Prize) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Prize?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.