Lesson 52 of 84 · Economics
⭐ 30 XP⚓ Market PortHow Prices Are Set
Prices are determined by supply and demand.
🎯 Your mission
Follow the money. Then follow the choices.
⚡ The twist
Money is just a story everyone agrees to believe.
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 determined by supply and demand. When many people want the same scarce product, prices rise. Competition among sellers can bring prices down.
Key Facts
Every choice has an opportunity cost.
Money is a medium of exchange.
Needs are different from wants.
Check Your Understanding
Question 1
1 of 2What happens when demand is high and supply is low?
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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How Prices Are Set
Follow the money. Then follow the choices.
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