student asking question

What is the difference between "purchase" and "buy"?

teacher

Native speaker’s answer

Rebecca

Great question! Essentially, both "purchase" and "buy" mean to acquire something using money. However, there is some difference between them. "Buying" is a more common term, while, "purchase" is considered to be a more formal word than "buy". Purchasing is often used to refer to contracts and big products, whereas buying is generally used for smaller everyday products. Ex: I purchased a piece of land. Ex: The government purchased a huge defence contract. Ex: I bought a new phone. Still, it must be noted that in daily use, the terms are interchangeable. Ex: I'm going to buy this book. Ex: I'm going to purchase this book.

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