Have you heard of the Law of Supply and Demand? Since it's Valentine's Day, Let's see how your buying of flowers affects the prices of how much flowers are sold!
Photo by Amy Shamblen on Unsplash
Valentine's Day really brings out everyone's saving money to buy flowers for our loved ones; that is because flowers are truly expensive during this time of the year!
The one thing that Wikipedia has to say about Valentine’s Day in the Philippine setting is: “It is usually marked by a steep increase in the price of flowers, particularly red roses.” Read more: https://opinion.inquirer.net/101646/economics-love-valentines-day#ixzz6DnINSO00
Roses really are a great hit in the country as it represents a lot of things that we want to say but would rather show it instead. But because of its popularity, prices end up skyrocketing! And the reason isn't because of higher production but because of its high demand. Because there is a high demand for roses, or flowers in general, there is a deficit in supply. This is the Law of Demand and Supply.
Demand and supply has what we call an inverse relationship.
When there is a high demand, the supply is low and prices will be high. When there is a high supply, the demand will be low and prices will be low too.
So if ever you thought that flowers are expensive because of transportation costs and such, you are right! But its skyrocketing price is all because of its skyrocketing demand.
Proofreader: Angelica Estrella (AB127)
Yorumlar