A "prize" is an award given to recognize achievement or excellence in a specific field. Prizes can be monetary, such as cash awards, or non-monetary, like trophies, medals, or certificates. They are often awarded in competitions, contests, or as part of recognition programs in various areas, including sports, academics, and the arts. Prizes serve to motivate individuals and groups to strive for success and improvement. Notable examples include the Nobel Prize, awarded for significant contributions to humanity, and the Academy Awards, which honor outstanding achievements in the film industry.