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economics

what is diamond water paradox?

  • Priyanka
  • 4072 Views
  • 4 Answers
4 Answers
  • the diamond water paradox is that in which we compare between conspicuous and necessary goods


  • out of syllabus


  • sorry I did'nt understand can u explain me?


  • The strongparadox/strong of value (also known as the strongdiamond/strong–strongwater paradox/strong) is the apparent contradiction that, althoughstrongwater/strong is on the whole more useful, in terms of survival, than strongdiamonds/strong, strongdiamonds/strong command a higher price in the market.


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