"Is right" is the term used by people who agree with something that is said. Generally used by 'hip' teenagers and people who just generally think they're cool.
Tom: "Oh man, check the tits on her..."
Jack: "Dude, she's hot"
Tom: "Is right"
The payback when someone on "Contestant's Row" outbids the person before them by one dollar and makes it up to the main stage.
Drew: "Chris bids 500 dollars for the diamond necklace, and Diane what is your bid?" Diane: "$501." Diane then gets on stage and blows the chance at winning a great prize, due to her cheap and dirty tactics. That is Price is Right Karma.
A douchebag tactic where an individual has an original idea, thought, etc. and then another individual takes that idea and adds something very marginal to it, and gets the glory for said idea as in the Price is Right gameshow where a bidder adds only $1 to another person's bid to win the right to go onstage.
My widget idea in the meeting was brilliant and Jim Bob price-is-righted me by saying the color should be red and the boss loved him for it.
The best gameshow on the planet. Consists of many different pricing games, such as plinko, and cliff hangers. The host is Bob Barker one of the oldest (but best), game show hosts on telvision.