what does relative price compare (Please don't

copy off the internet.)

I think is D. The price that a seller wants to pay to the price that the seller actually pays

no it's the price of one good or service to another

Well, relative price compares how expensive something is compared to something else. For example, if a slice of pizza costs $5 and a hamburger costs $10, we can say that the relative price of the pizza is lower than the hamburger. That means you get more pizza for your money, which is always a good thing, especially if you're a pizza lover like me! Just remember, when it comes to relative price, it's all about finding the best bang for your buck, or in this case, the best slice for your cents!

Compare to what?

To understand what relative price compares, we'll break down the concept step by step:

1. Start by understanding the term "price": Price is the amount of money or value that is assigned to a product or service. It is typically determined by the forces of supply and demand in the market.

2. Now, let's look at the term "relative": Relative means the comparison or relationship of one thing to another. It indicates a comparison between two or more items.

3. Combining both terms, "relative price" refers to the comparison of prices between different products or services. It helps to understand the value or worth of one item in relation to the others.

To calculate the relative price, follow these steps:
1. Identify the products or services you want to compare.
2. Determine the current prices of the chosen products or services.
3. Divide the price of one item by the price of another item.
- For example, if you want to compare the relative prices of two shirts, divide the price of one shirt by the price of the other shirt.
4. The result of the division will provide you with a ratio or fraction that represents the relative price between the two items.
- For instance, if Shirt A costs $20 and Shirt B costs $30, the relative price would be 20/30, which simplifies to 2/3 or approximately 0.67.
- This indicates that Shirt A is relatively cheaper than Shirt B.

Remember, relative price is a concept used to compare the prices of different items, helping individuals make decisions based on value and affordability.