Fares refer to the amount charged for transportation services, typically in public transit systems or airlines. They can vary based on distance, time of travel, and the type of service provided. For instance, bus and train fares may differ significantly, with options for discounts or passes available for frequent travelers. In the airline industry, fares are influenced by factors such as demand, seasonality, and booking time. Airlines often use dynamic pricing models, meaning that fares can change frequently. Understanding how fares work can help travelers make informed decisions and save money on their journeys.