Final answer:
Gold has a higher price than water because of limited supply and its value in various industries, while water is essential to life and more abundant.
Step-by-step explanation:
Gold has a higher price than water despite being a relatively nonessential item because the value of a commodity is determined by supply and demand.
Gold has limited supply and is used in various industries such as electronics, aerospace, and medical. It also has value as jewelry and as a conductor of electricity. Water, on the other hand, is essential to life and more abundant, resulting in a lower price.