The diamond-water paradox arises because essential goods may be cheap while nonessential goods may be expensive.
<h3>What do you mean by diamond-water paradox?</h3>
- The dilemma of value, also referred to as the diamond-water paradox, describes the significant disparity in cost between some important items and non-essential ones.
- In a market economy, the cost of many necessities for human life is significantly lower than the cost of less necessary necessities.
<h3>Why does the paradox of value between diamonds and water arise?</h3>
- Water is clearly more valuable as a scarce resource than the luxury of having a diamond.
- Customers are forced to decide whether to buy one more diamond or one more unit of water as demand rises.
- The concept of marginal utility describes this idea.
<h3>Why is marginal utility for diamond High?</h3>
- Diamonds, Due to the limited availability of diamonds, people are likely to operate near the vertical axis, somewhat high on the marginal utility curve.
- In other words, the amount consumed is not that large.
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Many businesses choose to open their intranets to other selected organizations through the use of <u>extranet</u>.
An intranet is a private network that is used for restricted communication within a business. It is used to share information and resources among employees in a secure manner, and enables collaboration and other services.
An extranet is also a private network, but is used by businesses to provide secure information to trust third parties. These third parties may be vendors, suppliers, partners, customers, etc. It is in some sense an extension of the intranet. The information shared is tightly controlled and only authorized users are allowed to access it
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Answer: True
Explanation:
Yes, the given statement is true that the short term goals are refers to the goals that is achieved in short period of time by establishing a proper financial planning and also manage our expenditure for the purpose of investing the various types of goals.
According to the given question, For the purpose of investing we need availability of the money for setting the each goals in prioritized way and also eliminating the credit and debt funds.
Therefore, The given statement is true.
The price of imported goods
Answer: The answer is attached
Explanation:
Probability is the likelihood or the chance of an occurrence of an event happening. Probability is the number of ways to achieve success in a total number of possible outcomes.
The calculation for the above question is attached
