Sunday
December 21, 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 - 4.20 Diamonds clearly satisfy less important needs than water, which...
econ - Suppose there are 1000 identical firms producing diamonds. Diamond miners...
econ - Suppose there are 1000 identical firms producing diamonds. Diamond miners...
7th grade social studies - I am doing a research on diamonds and need help. I am...
microeconomics - If the price of oil falls below $50 per barrel, then the supply...
ECONOMICS - Need examples of topics dealing with 2 Economic Concepts.... Meaning...
History-Blood Diamonds - i cant find anything on this subject...i have to write ...
Micro ECONOMICS - The majority of the world’s diamonds comes from Country A and ...
economics - The majority of the world’s diamonds comes from Country A and ...
Economics - Explain why housing prices vary from city to city. Clearly explain ...

Search
Members