Who Sets Prices?
by Anonymous · ⭐ 1 · 🍴 0
Does the shopkeeper choose prices freely? 🙋 Keep 4 items on the shelf and add more shoppers. As everyone tries to buy, the price rises! Reduce the shoppers, and the price falls; when shoppers and items match, the price stays put. 📦 Now keep the shoppers the same and add more items — just like prices falling after a bumper harvest. 👛 One last twist: set a price for eight people with different amounts of money. A higher price may mean more earnings, but more people will be unable to buy. Find a price everyone can afford, and one only a single person can afford! This app was made with code too · Remix it into a bargain market for your class?
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About this app
Who Sets the Price? is an interactive economics learning app about supply, demand, and affordability. Explore how changing the number of buyers or goods affects a simulated price, then set prices for eight people with different amounts of money to see who can still buy. Guided challenges help learners compare shortages, surpluses, equal supply and demand, and different price levels.
Use cases
- Elementary students learning basic economics
- Teachers demonstrating supply and demand in class
- Families discussing prices, shopping, and fairness
- Learners practicing how price changes affect buyers
Features
- Adjust the number of buyers while keeping 4 goods fixed
- Adjust the number of goods while keeping 6 buyers fixed
- Set a price and count who among eight people can afford it
- Guided challenges for raising, lowering, or matching prices
- Displays buyers, goods, price, affordable people, and unsold quantities
- Reset and advance controls with optional sound