How Prices Are Set

Mission Brief #52

🎯 Your mission

Trade-offs everywhere — find them.

⚡ The twist

Cheap for you usually means expensive for someone else.

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Prices are determined by supply and demand. When many people want the same scarce product, prices rise. Competition among sellers can bring prices down.

Key facts

Remember these

1Every choice has an opportunity cost.
2Money is a medium of exchange.
3Needs are different from wants.

Then & Now

💱 This is happening in your local store every single day.

Question 1 of 2

What happens when demand is high and supply is low?

How sure?😐 maybe

Question 2 of 2

What are goods?

How sure?😐 maybe

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✨ More to explore

🌍 Why this still matters: The next time you spend $1, ask: who else benefited besides you?

🏆 Try this week: Find two products that look similar but cost very different. Why?

👨‍👩‍👧 At dinner: “If you had $20 to start a business, what would you sell?”

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How Prices Are Set

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