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Monday, 18 June 2018

Water Vs Diamond Paradox

Why is water price is too low in comparison of Diamond even water is the demand of everyone in universe?. Water is essential for survival of a human being. 

The reason is simple. Water is available in plenty but diamonds are not. 

Availability of a commodity determines the price of a commodity. Diamonds are Scarce than water so diamonds are demanded at high cost by a specific class of people.

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