Question

Only scarce goods have price.Comment on it

Answer 1

only scarce goods have high price because there will be a demand of it in the markets .when there is a high demand for a product in the market the price of it increases rapidly...

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Answer 2

prices of goods depends on many factors such as availability, stock, quality, need etc. it a product is scarce it means it has a lot of demand as it is found in less number in the market. For its high demand in the market it's price is increased to get more profit. People who need it will buy it at high price. So price of scarce good is high.
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