Dynamic pricing

Dynamic pricing is when the price of something changes depending on different factors. Let's say you want to buy a toy from the store. The price of the toy may be different depending on different things like how many toys are left in the store, how many people want to buy it, what day of the week it is, or even what time of day it is.

For example, if there’s only one toy left and many children want to buy it, the store may increase the price of the toy to make more money. And if it’s a weekday when fewer people are shopping, the store may lower the price to encourage people to buy the toy. This happens online too when you see the price of your airline ticket going up and down before you book your flight.

Dynamic pricing is like playing a game of tug-of-war between buyers and sellers, where the price constantly goes up and down depending on how much someone is willing to pay for something and how much the seller wants to sell it for. It can be a bit complicated, but it’s really just about finding the right price for something at the right time.