organic has become part of the mainstream.

Ever wonder why organic food costs more than conventional food? Why, say, does an organic Fuji apple cost $2.75 a

pound, while its conventional counterpart costs $1.72 a pound? The same price relationship is true for just about

every organic product on the market. If many organic foods are locally grown, would they not take less time to get to

market and therefore be cheaper? What are the forces that keep those prices from coming down? Turns out those

forces have quite a bit to do with this chapter’s topic: demand and supply.

An auction bidder pays thousands of dollars for a dress Whitney Houston wore. A collector spends a small

fortune for a few drawings by John Lennon. People usually react to purchases like these in two ways: their jaw

drops because they think these are high prices to pay for such goods or they think these are rare, desirable

items and the amount paid seems right.

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