Code: 1.3.1 · Children and youth
Aware that prices of goods and services can increase over time (inflation)
Understands that there is a difference between wholesale and retail prices, between producer prices and consumer prices, and between price per unit and total price
Knows that certain goods are public (for e.g. the public park) and knows that the cost is borne by the community
Differentiates between the price and value of a good or service
Compares similar products according to prices and understands that a product/service can be overpriced
Lists prices of basic items, including food
Considers criteria other than price when choosing a product (including quality, terms and conditions, environmental, social and governance considerations, etc.) while taking into account personal income situation and other circumstances
Uses mental arithmetic to estimate the final price of a good or service (including discounts)
Analyses factors that may be reflected in the final price of a good/service (competition, supply and demand, quality, innovation, advertising, taxes etc.)
Confident to negotiate a fair price, when this is possible and appropriate