The 21-year-old midfielder has joined the Os on a 93-day loan after returning from fellow League One side Yeovil, where he has spent the last month, making seven appearances.
Price, who is poised to make his Orient debut at Sheffield United on Saturday, returns to Molineux in the new year.
The head coach said: “I think Jack is a really good player.
“We have to be careful we don’t get overpowered in this league because it’s a strong, powerful division.
“Every team is physically strong and full of running and your goals against column can get affected by that.
“Looking at our midfield, we’ve got Kevin McDonald and Tommy Rowe, who can play other positions as well – he’s probably played more games in his whole career at wide left or left-back.
“Age-wise, McDonald and Rowe are both 25, George Saville and Price are 21 and Lee Evans is 20.
“There’s a good future in those lads in terms of combinations of midfielders.
“We’ve also got Dave Edwards, but he’s more of a midfielder than a centre forward.”
Price could have stayed at Yeovil, but they wanted to divert resources into signing a striker and Jackett is confident he will get regular football at Orient.
“At a certain level of finance, Yeovil would have wanted to keep him, but I don’t think they’d have been able to come up with too much of his wages,” said the boss.
“They had some midfielders coming back from injury and wanted to use their pretty tight budget on a centre forward.
“Orient were prepared to pay all of his wages and with Lloyd James breaking his leg, there’s a gap to go straight into that team and it’s a good move.
I think he’ll stay in their side and do well there, then we can assess it in January.”