Question

What is an example of a commodity that has value based on the law of supply and demand? What is an item that has a true high value to humanity? What is an example of a commodity that has value based on the law of supply and demand? What is an item that has a true high value to humanity?

Answer 1

### Example of a Commodity Based on the Law of Supply and Demand:

**Oil**: Oil is a classic example of a commodity whose price is greatly influenced by supply and demand. When global demand for oil increases (e.g., due to economic growth or increased consumption) while supply remains constant or decreases (e.g., due to geopolitical tensions affecting production), the price of oil tends to rise. Conversely, when there is an oversupply of oil or a decrease in demand (such as during economic downturns), prices can fall.

### Item with True High Value to Humanity:

**Clean Water**: Clean water is an essential resource for human survival and health. Access to safe drinking water is critical for preventing diseases, supporting agriculture, and sustaining ecosystems. The value of clean water goes beyond monetary measures; it is vital for life itself and contributes significantly to overall well-being, economic stability, and social development. In many regions, access to clean water is a pressing issue, highlighting its high intrinsic value to humanity.