The iconic blue-and-white Chinese porcelain sold to people all over the world (particularly between the fourteenth and the sixteenth centuries) was so successful, entrepreneurs in Persia, Netherlands, Syria, Iberia, Mexico, and many other areas attempted to copy it. The actual process for creating such high-quality ceramics was kept secret, but in 1708 a German alchemist finally found a way to replicate the ancient art. What do you expect happened to the price of porcelain after 1708, and why?

Question

Quizplus · Accepted Answer

With the discovery of a way to replicate the porcelain, more producers entered the market, leading to increased competition. This would likely lead to a fall in the price of porcelain due to the increased supply.

The Iconic Blue-And-White Chinese Porcelain Sold to People All Over