View source for Prize

{{Short description|Award given to recognise or reward actions}}
{{other uses}}
[[File:Mall culture jakarta59.jpg|thumb|A [[car]] prize at a [[shopping mall]] in [[Indonesia]]]]
[[File:Skate Contest Prize Skate4Changes.jpg|thumb|Skateboarders excited to receive a free [[skateboard deck]] as a prize at a [[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 [[money|monetary rewards]] as well as the fame that comes with them. Some prizes are also associated with extravagant awarding ceremonies, such as the [[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]]: typically awarded as a joke or insult to whoever finished last (e.g., [[wooden spoon (award)|wooden spoon award]]).
* [[wikt:consolation prize|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]]". [[Subordinate]] awards are "second prize", "third prize", etc., or "first runner-up" and "second runner-up", etc., or "[[silver medal]]" and "[[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]], usually a reward for accomplishing a specific feat of use to the sponsor or society at large
==See also==
<!-- Please respect alphabetical order -->
* [[Award]]
* [[Medal]]
* [[Prize (law)]]
* [[Prize money]], monetary award that is given to someone after they have won a competition.
* [[Prizes named after people]]
* [[Repechage]]
==References==
{{reflist}}
==External links==
{{wiktionary|prize}}
{{commonscatinline|Prizes}}
{{Orders and phaleristics}}
[[Category:Awards]]