The price that someone is willing to accept for a security, futures or other financial instrument. The ask portion of a quote is the lowest price anyone is willing to accept at that time.
As used in the phrase 'bid and asked' it is the price at which a potential seller is willing to sell. Another way of saying this is the asking price for what someone is selling.
The average price asked by those persons recently willing to sell a commodity or over -the-counter stock. Bid is the purchase price and asked is the selling or offer price.