Although water is useful but it is cheap, on the contrary a diamond is not much of use but is very expensive. Give an economic reason for this paradox.

Although water is useful but it is cheap, on the contrary a diamond is

1.	Although water is useful but it is cheap, on the contrary a diamond is not much of use but is very expensive. Give an economic reason for this paradox.
Answer» Water is available in plenty whereas diamond is scarce. Therefore, water commands no price but diamond is very expensive.

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Although water is useful but it is cheap, on the contrary a diamond is not much of use but is very expensive. Give an economic reason for this paradox.

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