A "Bid" or "Offer" refers to the price a buyer is willing to pay for a specific asset, such as stocks, real estate, or commodities. In financial markets, bids are crucial for determining the value of an asset, as they reflect the demand from buyers. When someone places a bid, they indicate their interest in purchasing at that price. In contrast, the "Ask" price is what sellers are willing to accept for the same asset. The difference between the bid and ask prices is known as the "spread," which can indicate market liquidity. Understanding bids and asks is essential for participants in markets like stock exchanges and real estate.