Third, God gave all those things for free. In the beginning, God allowed men to eat them without paying, although it has changed since Adam sinned.
In modern economics, the curves of demand and supply are explained in the relation between a product price and its quantity. The lower the prices, the more consumers buy, so the consumption increases as the price goes down in the demand curve. On the contrary, producers want to produce more as price increases, so the production increases as the price goes up in the supply curve.
This explanation implies the scarcity of resources. Since resources are scarce and the number of people who can have them is limited, people must pay for them.
A range of financial products and commodities are traded on the New York Mercantile Exchange, the world’s largest futures exchange. Crude oil is one of them. Gas, diesel, LPG, naphtha, and kerosene are extracted by refining. Their prices fluctuate many times even in a day, due to the news that affects its demand and supply. It moves in response to information such as OPEC’s supply policy, consumption in the major oil-consumer countries, economic trends in the oil-intensive industries, shale gas reserves as alternative energy, and even key political factors.
However, what if crude oil would be infinitely supplied? What would happen if it could be easily obtained from everywhere—in the streams of our town, the valleys of any mountains, or all rivers surrounding lands?
If so, we would own it without paying for it. We would not have to stockpile it for tomorrow. We could go and get it whenever we needed it, anytime. There would be no reason for its price to be formed, and the exchange would not exist accordingly. Price itself becomes meaningless.
In such an environment, therefore, the relationship between price and quantity explained in modern economics is not formed because there is no price itself.
In the beginning, God gave humankind all things for free, since His power to supply is limitless and He loves us. God supplies all for nothing.