Paradox of value,
Definition of Paradox of value:
Observation that articles or goods critical to life (such as water) are very cheap, whereas others which have no bearing on human existence (such as diamonds) are very expensive. This paradox is explained by the law of supply and demand.
How to use Paradox of value in a sentence?
- You may find yourself in a situation where there is a paradox of value and you will need to do your best to figure out the truth.
- In many places around the world, wine, an unnecessary commodity, is much more expensive than water, which is vital for survival; this is strange, but it follows the paradox of value /.
- The paradox of value had some really good insight into some things that I did not know about before learning what the paradox meant.
Meaning of Paradox of value & Paradox of value Definition