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To study means to try to learn, to read doesn't imply any effort. A student studies English, maths, history and other subjects, he/she reads a story, a letter, or a newspaper. She is reading for a degree is also correct.
Price is the amount of money paid by the customer. Cost is the amount paid by the shopkeeper. We can say How much does it cost?
Value is the usefulness or importance of something. The value of milk as a food, the value of education. Face value is the amount printed on a piece of-paper-money or on a postage stamp.
To take place means to happen or to be held, while to take part means to be involved in.