Definition of The Price is Right from the Oxford Advanced Learner's Dictionary

 

The Price is Right

 
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a television game show in which competitors try to guess the price of products, and the one with the closest guess wins. It began in the US in 1956 and more recently was called The New Price is Right, presented on NBC by Bob Barker. Other countries, including Britain, have had their own versions. The British one, called Bruce's Price is Right (1995-2001), was presented by Bruce Forsyth.