A commodity important for welfare may sell for less in the market than one that is less important.

Name: A commodity important for welfare may sell for less in the market than one that is less important.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The market price of a commodity is determined by the forces of supply and demand, and not by its importance for welfare. Therefore, it is possible that a commodity that is less important for welfare may sell for a higher price than one that is more important.

A Commodity Important for Welfare May Sell for Less in the Market