Question at position 24 True or False: The value of diamonds comes from their scarcityFalseTrue

Question

BlackTom AI · Accepted Answer

Consider the statement and its two possible truth values.
Option 1: 'False' — Why this would be considered incorrect: if someone asserts that the value of diamonds does not come from their scarcity, they are ignoring a fundamental economic principle. Scarcity helps create supply constraints, which, all else equal, can drive prices up when demand remains steady or grows. In the diamond market, other factors such as consumer demand, branding, durability, and perceived prestige interact with scarcity, but saying scarcity plays no role overlooks a core driver of value in many commodities.
Option 2: 'True' — Why this can be considered correct: scarcity limits how abundant diamonds are, helping to sustain higher prices and a sense of rarity, which consumers often equate with value. The diamond market intentionally maintains controlled supply (and with marketing efforts that emphasize rarity), so scarcity is a key contributor to their value. While other factors like marketing, desirability, and durability influence price, the scarcity component remains a fundamental driver that supports the overall value proposition.
In sum, recognizing scarcity as a central factor aligns with economic principles about supply, demand, and price, though it is not the sole determinant of value, as other elements also play important roles in shaping how much people are willing to pay.

Question at position 24 True or False: The value of diamonds comes from their scarcityFalseTrue

查看解析

登录即可查看完整答案

类似问题

When a society cannot produce all the resources that people wish to have, it is called:

The basic reason why choices matter is that

Dan is deciding whether to pay $200 for a sweater or wait 2 months for the sweater to go on a 50% off sale. An economist would reason that:Time is a scarce resource. The scarcity principle does not apply. The sweater is a scarce resource. Which statement is true:

12. Scarcity is a situation in which:

The principle of scarcity arises due to:

Everyone except for the super wealthy has a finite, or limited, amount of income. BlackTom题目解析

The problem refers to the need to make choices because economic wants exceed economic means. (Enter one word in the blank.) BlackTom题目解析

Which of the following is a result of having scarce economic resources for the production of goods and services? BlackTom题目解析

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单