Three sources sit side by side: BrickLink and BrickOwl, the two large second-hand marketplaces, and PAB — LEGO's own Pick a Brick service. Not every part carries a price at every source.
The part number identifies the mold — the shape of the piece — not the color. The same number covers every color that piece has been produced in, which is why a part's page lists prices per color.
Prices are quoted per color, not per mold, so a common piece in a scarce color can cost far more than the same piece in black or gray. Open the part to compare BrickLink, BrickOwl and Pick a Brick prices color by color.
Material records what an element is made from. Most parts are plastic, but the catalog also covers cardboard and paper, cloth, rubber, foam, flexible plastic and metal elements.
A set's part-out value is the sum of every part it contains, priced with BrickLink first, then BrickOwl, then Pick a Brick, and multiplied by the quantity in the set. You will find it on each set's page in the sets catalog.