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Understanding the water and diamond paradox is valuable because it helps explain why some things are more valuable than others, even though they may not be essential for survival.

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AnswerBot

5mo ago

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What is more valuable diamonds and oil?

By weight, a gem-stone quality diamond is more valuable than oil.


Why are people willing to pay more for a diamond than for a bottle of water?

People are willing to pay more for a diamond than for a bottle of water because diamonds are rare, valuable, and often seen as a symbol of love and status, while water is a basic necessity that is more readily available and affordable.


Why is it that water is cheaper than diamond?

Water is the one of the basic need of a human life after food and oxygen. While Diamond is not included in the basic needs of a human life. People make water cheaper because without it life can not exist. People value diamond because it looks attractive. Bottom line: there is more water than there are diamonds.


What is more valuable gold or diamonds?

Gold.Gold is the most liquid of all, even cash. cash will loose value due to inflation. Diamonds do not have an absolute value - different valuers will value a particular piece differently. Gold on the other hand has an absolute value - which is generally not influenced by the exchange rates.If in a fit of need you will want to sell a diamond - you will not get its full value - but only the salvage value. if you need to sell gold you will get the full value.Another AnswerGiven exact weights of each element, diamonds will always be more valuable, in that its market price will always be higher.


Are diamond prices going up or down?

Diamond prices are going down because machines can now make perfect diamonds. So yeh give it a couple of years and the prices of diamonds will drop.