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This is due to the principles of supply and demand. If a product is in high demand but low supply then sellers will raise the price and maximize profits.
They also will pay a high price either because they want the product ( a discretionary decision ) or the need it.
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Why would the price of a product made with scarce natural resources tend to be high or low?
High.
What happens to price if demand is high and supply is low?
What ever the demand is it's scarce
What causes a stock to go up or down?
The demand and supply of a particular stock decides the way its price is going to move. When there are more buyers to a stock than sellers - high demand then its price goes up. When there are more sellers than buyers - high supply then the price goes down. The reason as to why people would want to buy or sell a stock would depend on a variety of reasons like, the company's performance, latest news, global economic situation etc.
What is the role of prices in the free market?
Prices in a free market are a measure of scarcity and desirability. Something that is scarce and desirable - gold, for example - will have a high price. Something that is common but still desirable - bread or beef - will have a lower price. As the scarcity or desirability of an item increases, the price will increase.
What is the average cost of bags from Nine West?
Bags from Nine West vary in price. They can be as low as $20 and as high as $200. It all depends on the buyers needs and wants. They do occasionally have sales and coupons.
Why do buyers pay a high price for something that is scarce?
Yes, because if something is scares, it obviously means (your not stupid) it is almost out of stock. Therefore, lets say a collector, will pay high price (or anyone for that mater).
If a good or service has high demsnd and a scarce supply the price is likely what?
a scarce supply of th price is what
Why would the price of a product made with scarce natural resources tend to be high or low?
High.
What happens to price if demand is high and supply is low?
What ever the demand is it's scarce
What did highwaymen do with their stolen goods?
They sold it to worthy buyers. They sold many for a high price.
How does supply and demand affect the price of homes?
It's simple if you have a lot of buyers of one place they will compete and price will go up but if you don't have a buyer at all definiately price will be low like in some areas price are high and in some it's low just because amount of buyers.
If the price of oil rises around the world what will happen to oil production in Texas?
They will produce less of it because when the price raises, the buyers want less of it because the price is too high.
What signal does a high price send to buyers and sellers?
a signal that makes coustermers buy more supplies from te companies
Who set the price for gold?
Everyone. Gold has no set price, just a market price based on supply and demand. It has to do with the cost of production (Finding it) and the demand. Price is always high, as it is a scarce resource. When we run out of its supply, the demand will increase and the price will increase majorly.
What are the Law of Supply and Law of Demand?
In economics, when a commodity is in high demand or in scarce supply, its price will rise; when a commodity is in low demand or plentifully supplied, its price will be lower.The laws of supply and demand dictate that if a product is in short supply, but the demand is high, the price of the product will also rise. If a product is in overabundance, but the demand is low, the price of the product will decrease.
What causes a stock to go up or down?
The demand and supply of a particular stock decides the way its price is going to move. When there are more buyers to a stock than sellers - high demand then its price goes up. When there are more sellers than buyers - high supply then the price goes down. The reason as to why people would want to buy or sell a stock would depend on a variety of reasons like, the company's performance, latest news, global economic situation etc.
What is the role of prices in the free market?
Prices in a free market are a measure of scarcity and desirability. Something that is scarce and desirable - gold, for example - will have a high price. Something that is common but still desirable - bread or beef - will have a lower price. As the scarcity or desirability of an item increases, the price will increase.
