The Diamond-water Paradox shows us that ?
Adam Smith points out that practical things that we use every day often have little or no value in exchange. Things like cups, utensils, socks, and water are a few examples. On the other hand, things that often have the greatest value in the market have little or no practical use. This is because of marginal utility and scarcity . There is plenty of water in most parts of the world (not scarce), which means that, as consumers, we usually have a low marginal utility for water. In a typical situation, we aren't willing to pay a lot of money for one more drink of water. Diamonds, however, are scarce. Because they are harder to find and attain, our marginal utility (additional satisfaction), for adding a diamond to our collection is much higher than someone offering us one more drink of water.
SIDBI has partnered with ___________ to connect the informal rural microenterprises with the formal financial sector to help them digitise their busines...
Which initiative of Ministry of Agriculture won Platinum Award (1st) in the Digital Empowerment of Citizens Category?
The Rajasthan government announced an investment of how much to develop the Maharana Pratap Tourist Circuit?
Which of the following firm recently released India’s Purchasing Managers’ Index (PMI)?
Recently Prime Minister Shri Narendra Modi lay the foundation stone for the National Institute for One Health in which of the following city?
What was the primary aim of the MGMP Season 2? Â
The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme was launched in which year?
Recently in Dec 2022, the Ministry of Civil Aviation issues guidelines for PLI incentive scheme to support indigenous ___.
Alphabet’s Google will open its global fintech operations centre at GIFT City through its existing _______ India digitisation fund to enhance Indiaâ€...
The Ministry of Information & Broadcasting has partnered with _____in the field of media, entertainment and public awareness.