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Think of examples of goods whose relative price has risen or fallen by a large amount.

Think of examples of goods whose relative price has risen or fallen by a large amount.

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Some examples of items where both the money price and the relative price have risen over time are gasoline; college tuition; food. The reason is that all these goods are necessities.So there is price has risen. Food is essential for survival. Gasoline is an important fuel. College tution has gained immense importance as people have become very serious about studies and higher education.

Some examples of items where both the money price and the relative price have fallen over time are personal computers; HD televisions and calculators. The reason is that with the use of laptops demand for personal computers have reduced. There has been oversupply of HD TV's in the recent years. With the use of mobile phones which have feature of calculator the use of traditional calculators is reduced.

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