Money and prices — Economics, 4–6 years
Money is a shared way to pay for things. A price tells us how many coins or notes are needed for one item.
Money helps us exchange
A price is an amount of money asked for one thing, such as 2 euros for a book. Coins and notes are made to be counted and accepted by many people. Instead of swapping a toy directly for bread, a person can use money first, and the shop can use that money for something else.
Why have prices and money?
Direct swapping can be tricky: someone with apples may not want your toy, even if you want the apples. Money helps many people trade without needing a perfect match. Prices also give a common way to compare things, although a price does not tell us whether something is useful or worth wanting.
Paying and checking change
A juice costs 3 euros. Sam gives the shop 5 euros, so the shop returns 2 euros: 5 minus 3 equals 2. Step by step: read the price, count the money given, take away the price, and check that the returned coins plus the cost make the original 5 euros.
The biggest coin is not always more
A large-looking coin can seem more valuable than a small one, and a handful of coins can feel like a lot. But size, shine and number do not decide the value. Look at the number printed on each coin and count the amounts; that is a sensible check when appearances are confusing.
Shops, menus and tickets
You see prices on shop labels, café menus, bus tickets and museum entrances. Adults use them to plan what they can buy, and you can compare two prices or count coins with them. A price may change when an item is scarce or when making it becomes more expensive.
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