How can it be that water, which is essential for life and therefore a "valuable" a thing as can be imagined, is so inexpensive relative to diamonds, which are used for nothing but decoration (and some non-essential uses such as cutting)?
Shouldn't a bucket of water be worth a few dozen diamonds?
2006-12-10 16:34:45 · 5 answers · asked by The Prince 6 in Society & Culture ➔ Other - Society & Culture
People tend to value what they don't have, what they perceive as valuable. In truth, more women in America have a diamond than a dishwasher, but diamonds are thought to be rare. Actually, a cartel limits how many are released, therefore keeping the price up. If you didn't have any water, you'd value it, too.
2006-12-10 16:43:04 · answer #1 · answered by Katherine W 7 · 0⤊ 0⤋
Look at how much water covers the earth compared to how many diamonds there are. Finding water is easy anyone can do it however finding a diamond is hard work. The more rare something is the more people are willing to spend on it.
If you've ever seen the movie Tank Girl it's a good example of that. There is hardly any water and so this water company makes this device that sucks the water out of people killing them. So they could sell that water for outragous amount of money.
2006-12-10 16:54:05 · answer #2 · answered by Gypsy Cat 4 · 0⤊ 1⤋
This is a simple query.You are comparing water which we cannot live without to diamonds which we can live without. High fashion/ vital nutrition? Come on man, get real. Surely you can come up with a better paradox than that. If we could place a diamond value on water, no one would have money problems now would they. Maybe things like this make you feel smart. Stop playing on mommies computer, it's past your bedtime.
2006-12-10 16:57:44 · answer #3 · answered by tomcat 2 · 0⤊ 1⤋
It's all about consumer demand. Although water may be more valuable, since it is not short in supply, it is not in high demand. Diamonds, on the other hand, are something people want a lot. The price of things is dependent on what someone will pay for it. Think about it...why do iPods cost so much more than MP3s? Its because more people want iPods, so they can charge you more for it. Price is determined on consumer demand.
2006-12-10 16:42:50 · answer #4 · answered by Patrick 2 · 0⤊ 1⤋
you have a good point...but some where in time, because diamonds are so hard to fine, and so rare, they feel decoration, is so much more important then, water, something essential for life...no logic, but we don't make the rules...lol...and don't give any ideas, soon the goverment will be charging us 20$ a gallon for water, lol
2006-12-10 16:41:35 · answer #5 · answered by donttalkjustplay05 4 · 0⤊ 1⤋