the ticket turns out to be expensive during the week you intend to go, you might consider other weeks when the

ticket might be cheaper. The price could be high because you were planning to travel during a holiday when

demand for traveling is high. Maybe the cost of an input like jet fuel increased or the airline has raised the

price temporarily to see how many people are willing to pay it. Perhaps all of these factors are present at the

same time. You do not need to analyze the market and break down the price change into its underlying factors.

You just have to look at the ticket price and decide whether and when to fly.

In the same way, price changes provide useful information to producers. Imagine the situation of a farmer who

grows oats and learns that the price of oats has risen. The higher price could be due to an increase in demand

caused by a new scientific study proclaiming that eating oats is especially healthful. Perhaps the price of a
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