BUY VS. PURCHASE

##Buying is considered a general term, which is most commonly used to refer to everyday goods and commodities, 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 inferred for small products. For example:

‘I purchased a piece of land’

or

‘The government purchased a huge defense contract.’

However,

‘I bought a new phone.’

Still, it must be noted that in daily usage, the terms are synonymous. For example:

I bought a new book.
I purchased a new book.

Dictionary.com defines ##Buy as:

To acquire the possession of, or the right to, by paying or promising to pay an equivalent, especially in money; purchase.

To acquire by exchange or concession: to buy favor with flattery.

To hire or obtain the services of: The Yankees bought a new center fielder.

To bribe: Most public officials cannot be bought.

To be the monetary or purchasing equivalent of:

Ten dollars buys less than it used to.

Whereas, ##Purchase is defines as:

To acquire by the payment of money or its equivalent; buy.

To acquire by effort, sacrifice, flattery, etc.

To influence by a bribe.

To be sufficient to buy: Twenty dollars purchases a subscription.

To acquire (land or other property) by means other than inheritance.

To buy something.

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SS ACADEMY