Lesson 76 of 84 · Economics
⭐ 30 XP⚓ Market PortHow Prices Work
Prices are how much things cost.
🎯 Your mission
Spot the cost behind the price.
⚡ The twist
Cheap for you usually means expensive for someone else.
Mind = Blown
🤯 Money used to be made of cocoa beans, salt, and even giant stones.
Then & Now
💱 Every receipt you've ever seen has this idea inside it.
Prices are how much things cost. When you want to buy something, the price tells you how many dollars you need. Prices can change based on how many people want to buy something and how many are available.
Key Facts
Prices tell us how much to pay for things.
When many people want something, the price may go up.
If there are many items but few buyers, the price may go down.
Check Your Understanding
Question 1
1 of 2What does the price of an item tell you?
Why this still matters
The next time you spend $1, ask: who else benefited besides you?
Stretch Challenge
Try this in real life this week.
Track every dollar you spend or get this week. Then figure out the pattern.
For the dinner table
“If you had $20 to start a business, what would you sell?”
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