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If granite was in short supply and high demand do you think it would be as valuable as gold and why?
Wiki User
∙ 13y ago
The price of granite will undoubtedly go up but probably not become as pricey as the value of gold. Gold is lot more scare than granite and with its current use presumably gold prices will always to more than granite. Also, gold can be recycled whereas granite cannot be easily recycled.
Wiki User
∙ 13y ago
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When glucose is in short supply plants will quickly hydrolyze?
starch
Why can't humans always use fossils fuels for energy?
Fossil fuels (coal, oil and natural gas) are the cause of global warming, a serious threat to life on this planet. Humans want to improve the environment and leave a better future for later generations, so we are moving swiftly to renewable energy like solar wind and water power.
What is is unbalanced force in a short story?
what is an unbalanced force in a short story
A cactus can either have long needles L or short needles l A cactus grower crosses two cacti what is the result what is the phenotype ratio for the cross?
All long (Ll) but carrying the recessive for short.
When responding to short-answer question you should?
write your answers in a short, economical way.
What is the rule of price in economics?
Price is tied to supply in demand. If there is a short supply and big demand, price goes up. If there is a short supply and low demand, price will remain steady. If supply is high and demand small, price will go down.
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 does short supply mean?
People are wanting more than there is available. ie. Demand is greater than supply.
What is the difference between excess demand and excess supply?
Excess demand (a seller's market) means the product is in short supply and prices will rise. Excess supply (buyer's market) means too much product as compared to demand and therefore prices will fall.
If supply increases and demand is constant price will what?
In the short run nothing happens to price
How Market is made up off in Economics?
Market is made up of consumers where the element of product/service demand occurs. When the demand is generated suppliers have to fulfill the demand of the customers through the supply of product/service. In short demand and supply makes the market.
What impact will short supply of material have on budget preparation?
A short supply will usually have the effect of increasing price. This is due to basic laws of supply and demand. If the price of raw materials increases, then the forecasted profit will be in jeopardy.
What happens to supply as price decreases?
If demand remains constant and supply decreases, then the price will rise. The law of supply and demand says that a price will move either up or down based on the balance of supply and demand. As the supply decreases, prices will move higher because the product is more scarce. As supply increases, prices will move lower because the product is readily available. For instance, suppose there is a drought and wheat is in short supply. The price of flour and bread will increase because people still want to buy them but they are in short supply. On the other hand, if there is a bumper crop and wheat is plentiful, the cost will drop as farmers compete to sell their crops. Prices are also affected by demand. Several years ago, Beanie Babies were in great demand as collector items so prices soared. Today, however, the demand is much lower so prices have dropped greatly (with basically the same supply on the market).
Why do firms experience increasing marginal returns and then diminishing marginal returns?
The short answer would be supply and demand. As demand for the firms increase, they will experience increasing returns. Likewise, as demand decreases, so do their returns.
Most economists use the aggregate demand and aggregate supply model primarily to analyze?
Short-run fluctuations in the economy
What would happen in the for a good if demand increase and supply decreases?
In the short run, there would be oversupply.
What will happen to the price of potatoes if an early frost decreases the supply of potatoes?
The price of potatoes will go up. Anything in short supply gets more expensive. Anything in abundant supply gets cheaper. That is basic economics - "supply and demand".
