How Prices Are Set

Mission Brief #84

🎯 Your mission

Spot the cost behind the price.

⚡ The twist

Cheap for you usually means expensive for someone else.

Read

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

1Money is a medium of exchange.
2Needs are different from wants.
3Supply and demand affect prices.

Then & Now

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

Question 1 of 2

What is trade?

How sure?😐 maybe

Question 2 of 2

What is an opportunity cost?

How sure?😐 maybe

Nice work!

You got 0 of 2 right.

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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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