difference between award and prize and reward

award - (An award is usually a token of appreciation for doing something well. A prize is usually a thing or money, while an award is often a certificate. "What did you win in the competition? If you answer "award", then we expect a token of effort and merit (a certificate, a medal, a plaque). You can't use "reward" here; only prizes and awards are won. ")
prize - ("prize" is rarely used as a verb, and when it is, it doesn't mean anything that "reward" or "award" do. A prize is generally won in a competition or a contest. "What did you win in the competition?" If you answer "prize", then we expect something of some material value (100 dollars, a new car, a trip to Hawaii).)
reward - (Shagnal uranshuulal -
"The teacher rewarded his students for their hard work with a week of no homework". You can't use "award" here.)

the difference among award, reward and prize?

(Hello Everyone,

I would like to know here the salient difference among award , reward and prize?)

• The meanings are similar, but are also very different. First, let me tell you that "prize" is rarely used as a verb, and when it is, it doesn't mean anything that "reward" or "award" do. Here's what I can tell you about their meanings as nouns: a prize is generally won in a competition or a contest. An award is most commonly simply a token of merit or good actions. A reward is 1) something positive you get out of something 2) money given to someone for doing something, like finding a lost pet, or 3) something you get because you did something good. Rewards also imply something good, positive, praiseworthy, desirable. 
  
  "What did you win in the competition?" If you answer "prize", then we expect something of some material value (100 dollars, a new car, a trip to Hawaii). If you answer "award", then we expect a token of effort and merit (a certificate, a medal, a plaque). You can't use "reward" here; only prizes and awards are won. 
  
  A reward is also unique in being something intangible (like satisfaction): (A mother's reward after so much labor raising her kids is seeing them grow up to be successful adults). You can't use "prize" or "award" here.
  
  As verbs, "award" and "reward" are similar. "Award" is more similar "concede" or "render". "Reward" means give to someone for doing something good. 
  
  "They awarded the prizes at the assembly". You can't use "award" here.
  "The teacher rewarded his students for their hard work with a week of no homework". You can't use "award" here.
  
  Hopefully we can get the thoughts of others.

award vs prize

(I have a question concerning these two words of award and prize. Do the two words mean the same or different things? I always associate the word award with a piece of paper like a certificate and the word prize with toys. Is that correct understanding on my part? Please verify. As always I am grateful for all of your help.)

• I guess you get a reward for something that you have done or for a job well done. On the other hand, you get a prize if you win a competition.

• They both mean that you have won something. You win "prizes" in raffles and gain "an Academy Award" so maybe an "award" is for something that you were not especially expecting to receive. e.g. for excellence and a "prize" is for something you entered and hope to win. e.g. a race or a lottery.

• There are other threads that talk about these words in various contexts if you do a forum search. An award is usually a token of appreciation for doing something well. A prize is given if you win something by being better than others at it. A prize is usually a thing or money, while an award is often a certificate.