Why Are Some Things So Expensive?

Imagine you have a bag of candies, and only one is chocolate, everyone wants that candy. That’s like why some things are expensive: when lots of people want something rare, it costs more. If there were a million chocolates, no one would pay much for one. But with just one, it becomes special.

Take the quiz →

Examples

  1. A chocolate bar costs $1, but a diamond ring might cost thousands because only a few people can own one.
  2. Everyone wants to buy the same toy at the store, so it’s expensive until more are made.
  3. Gold is expensive because it's rare and many people want it for jewelry.

Ask a question

See also

Loading…

Discussion

Recent activity

Categories: Economics · cost,value,economics,money,luxury