Changing Prices
Find out what a price is to understand why some
prices change.
How do we find out the price of something?
Finding out the price of something is easy. You
go to the shops and look at the label. You can even use the
internet. But this doesn’t tell us who or what decided
the price in the first place. To understand how this works we
need to know what a price is.
What is a price?
We measure the value of things with money by giving
things a 
price.
A price is the amount of money for which something can be bought
or sold.
Why
do prices change?
The value of anything can change for all sorts of reasons.
These reasons make prices go up or down. For example, bad weather
in the summer might cause vegetables to go up in price or the
price of some clothes might go down because they are out of
fashion. All of these things, and more, cause changes in demand
and supply.
Key Resources
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