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an award or reward given to the winner of a competition or contest
The lottery prize was a million dollars.
The money awarded in the lottery was one million dollars.
Can also refer to something highly valued or sought after.
to value or esteem something highly
She prizes her family above all else.
She values her family more than anything.
Used as a verb in this sense.
Remember that 'prize' can be both a noun (a reward) and a verb (to value highly).
From Middle English 'prise', from Old French 'pris', meaning 'price' or 'value'.
Can be used as both a noun and a verb. As a verb, it means to value something highly.