What is a prize?
An award is an award or trophy given to an individual or group of individuals (such as sports teams and organizations) to recognize and reward their actions and achievements or for a service rendered or because they deserve it. Usually, it is a reward in recognition of an effort or an accomplishment.
Formal awards often involve monetary rewards as well as the fame that comes with them. Some awards are also associated with extravagant award ceremonies, such as the Oscars.
Prizes are also awarded to publicize outstanding or exemplary behavior and to provide incentive for better results and competitive efforts. Generally, awards are viewed in a positive light and their winners are admired. However, many awards, especially the most famous, have often sparked controversy and jealousy.
Examples: "The English singer received an award for excellence for his career in music and was acclaimed by thousands of people", "Mario Vargas Llosa won the Nobel Prize for Literature in 2010", "The authorities have decided to award a prize to the child who had the highest average among all the schools in the city", "The poet refused to accept the prize because of his disagreement with the foreign policy of his country".
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