A prize is an award given to a person or a group of people to recognise and reward actions or achievements. Official prizes often involve monetary rewards as well as the fame that comes with them. Some prizes are also associated with extravagant awarding ceremonies, such as the Oscars. An award is something given to a person or group of people to recognize excellence in a certain field. ... An example of Money. ... Academy Awards The Academy Awards, popularly known as the Oscars, are the most prominent film awards in the United States and most watched awards ceremony in the world. ...

Prizes are given for a number of reasons: to highlight noteworthy or exemplary behaviour, and to provide incentives in competitions, etc. In general, prizes are regarded in a positive light, and their winners are admired. However, many prizes, especially the more famous ones, have often caused controversy and jealousy. Look up Controversy in Wiktionary, the free dictionary For other uses, see Controversy (disambiguation). ... Jealousy is an emotion by one who perceives that another person is giving something that he/she wants or feels is due to them (often attention, love, respect or affection) to an alternate. ...

Specific types of prizes include:

• First prize, second prize, third prize etc.
• Consolation prize: an award given to those who do not win an event but are deserving of recognition.
• Booby prize: typically awarded as a joke or insult to whomever finished last.

See also

Look up prize in Wiktionary, the free dictionary.

• Medal
• List of prizes, medals, and awards
• Prize money, monetary award that is given to someone after they have won a competition.
• Prizes named after people