word-forming element meaning "before," from Old French pre- and Medieval Latin pre-, both from Latin prae (adverb and preposition) "before in time or place," from PIE *peri- (source also of Oscan prai, Umbrian pre, Sanskrit pare "thereupon," Greek parai "at," Gaulish are- "at, before," Lithuanian prie "at," Old Church Slavonic pri "at," Gothic faura, Old English fore "before"), extended form of root *per- (1) "forward," hence "beyond, in front of, before."
The Latin word was active in forming verbs. Also see prae-. Sometimes in Middle English muddled with words in pro- or per-.
late 15c., "purchase," from Latin emptionem (nominative emptio) "a buying, purchasing; thing bought," noun of action from emptus, past-participle of emere "to buy" (from PIE root *em- "to take, distribute").