So I had a conversation about this once. We were discussing common, expensive material components for spells, ones that have set prices. 100 gp pearls, diamonds and diamond dust, that sort of thing. If there components are consumed by casting (as happens in many versions of D&D), what happens when, you know, the world runs out of them? Even though pearls are grown, there can't be that many of the right price. Or does inflation and local pricing matter? Does Identify require lesser pearls in the desert than it does in a sea town?
Do diamonds automatically replenish themselves, perhaps due to some rift to an elemental plane? Do the Gods do it? Will prices or even components change over time? Are these things bought and sold in a "mage marketplace"?
And what does happen if an enterprising Wizard opens a Gate to the Elemental Plane of Earth and negotiates with the Dao for gems in bulk?