What I am passionate about studying this topic:
We need water more than we need diamonds. So why do diamonds cost more than something that we want? It’s because there is a scarcity of diamonds. If water didn't make up 70% of the earth then i’m sure that it would be more expensive. I know that water is a need and diamonds are wants. I am passionate about this topic because i want to know why something that everyone needs costs less than something we want.
What I already know about this topic:
I know that Diamonds are very pretty and they are very valuable but why isn't water thought of the same way? A lot of people take advantage of water and someday we won’t have enough for everyone at every moment. Diamonds are very hard to find and water isn't. I want to know why diamonds are so valuable and why water is not as special or rare. I know that diamonds are rare and there is a scarcity of them, but Water is everywhere and sooner or later it will be scarce.
Does the amount of something affect its price?
ReplyDeleteWhat other goods are abundant now but will be scarce eventually?
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ReplyDeleteDo people value diamonds for more than they should?
ReplyDeleteHow much water is considered scarce?
ReplyDeleteShould people conserve water now?
ReplyDeleteWhat can we do to better distribute scarce resources?
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ReplyDeleteAre diamonds really worth their cost?
ReplyDeleteshould people want diamonds?
ReplyDeleteAre there alternative uses to diamonds instead of just jewelry?
ReplyDeleteHow does need and want affect the price of goods?
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