Wednesday
April 23, 2014

Homework Help: Economics

Posted by Amanda on Tuesday, June 4, 2013 at 12:24pm.

Explain the difference in prices for each of the following pairs of goods in terms of the laws of supply and demand: (a) natural diamonds and zircons (human-made diamonds), (b) a loaf of bread baked today compared with day-old bread, (c) roses in January and roses in June.

That's my answer and I tried but I know it's not right I just don't get it..

A. So with the law of demand people would mostly go for zircons they will be a lot cheaper and the law of supply the diamonds will cost more.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Economics - Explain why housing prices vary from city to city. Clearly explain ...
Economics - 2. Advertising can inform buyers, but sellers must incur costs to ...
Economics - How to explain the differences in prices of "homogeneous" goods ...
home economics - explain how supply and demand effect the prices of homes and be...
college - Explain why housing prices vary from city to city. Clearly explain ...
Economics - A newspaper story on the effect of higher milk prices on the market ...
ECONOMICS - Okay Maybe I didn't fully explain what exactly I needed the first ...
Math - The difference between the prices of two bikes is $22. The sum of the ...
math - the difference between the prices of two bikes is $18.the sum of the ...
Economics - What is the primary difference between normative and positive ...

Search
Members