EXPLAINING THE WATER-DIAMOND PARADOX One of the most famous puzzles in economic theory is why Diamonds are more expensive than water. In our case we consider GOLD in case of DIAMONDS. Water is essential for life; it is so useful that without its consumption one cannot live or survive. On the other hand‚ diamonds‚ though attractive and beautiful‚ satisfy less human important needs than water. Then‚ how it can be that in the market a less useful commodity like diamonds is so expensive and a useful
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The age-old question as to why diamonds are more expensive than water has perplexed economists for years. The fact that we need water to survive yet it costs less than diamonds‚ which has nothing to do with the survival of mankind‚ is very interesting. When talking about the Diamond-Water paradox‚ it is based on the premise of goods‚ ’ that consumption is related to well being which economists call utility. When it comes to the purchasing of goods or services it is explained that the bulk of
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Week 1 Think about your personality and work habits. What type of person (in terms of personality and work habits) do you think you’d work well with and what type of person do you think you’d be in constant conflict with? Answer: Personally‚ I am an outgoing person‚ I am known for being blunt and direct among my friends. When I am working‚ I become a well-organized people‚ and I always have a written list of things to do and a schedule for doing them‚ I can both work individually and in a
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Oscar Claude Monet Oscar Claude Monet was born on November 14‚ 1840 in Paris‚ France. Monet spent most of his childhood in Le Havre‚ France. In Le Havre‚ Monet studied drawing and painted seascapes with a French painter Eugene Louis Boudin in his teens. By 1859 Monet committed himself a career to be an artist. Monet spent a lot of time in Paris around 1859. By 1860 Monet met a pre-impressionist painter‚ Edouard Manet. Monet also met other French painters destined to form the impressionist
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Slučaj: Oscar Mayer 1. Na početku slučaja‚ McGraw misli da “nikada nije naišao na tako komplikovan poslovni izazov” kao ovaj koji sada stoji pred njim. Do kraja slučaja‚ nakon što je pročitao sve ideje iz četiri bilješke koje je dobio‚ McGraw ne može da vjeruje da je ikada pomislio kako će pitanje ulaganja biti teško. Šta je promijenilo njegov pogled na situaciju? Koje strateške procese odlučivanja slijedi McGraw? Odgovor: -Smatram da su McGraw-ov pogled na situaciju
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In his historical novel‚ The Brief Wondrous Life of Oscar Wao‚ Junot Diaz illuminates the dysfunctionality of the hyper-sexualized culture of the Dominican Republic through the juxtaposition of the fukú‚ or curse‚ the fictional legacy of the deLeon family‚ and the historical oppressive regime of Rafael Trujillo. As the hostile dictator of the Dominican Republic for 31 years‚ Trujillo’s embodiment of a masculinity characterized by terror‚ abuse‚ and the objectification of women‚ develops into the
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because of their cruel laws and lack of human rights. Therefore‚ America is now forced with the problem of illegal immigration. This problem could possibly be solved if more people would stand up to their countries government as Oscar Romero and Desmond Tutu had in the past. Oscar Romero was an Archbishop of El Salvador and admired by his people and followers. While his country’s citizens were being killed in the streets‚ he was thinking of ways to stop the violence‚ even though
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Which of these are the main sources of regulations governing financial reporting in Australia? A) The Corporations Act‚ The AASB‚ CLERP B) Accounting standards‚ conceptual framework‚ stock exchange listing rules C) Government legislation‚ stock exchange listing rules‚ accounting standards D) AASB‚ FRC‚ government legislation. If there is a conflict between the provisions of the Framework and the requirements of the accounting standards A) The statements of accounting concepts prevail B) The
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Truman Capote’s‚ “A Diamond Guitar”‚ is a mellow dramatic depiction of two people who fell into each other’s lives‚ needed each other‚ and who inevitably used one another. Throughout the story you are led to believe that there is two main protagonist characters‚ but the author discretely turns one of them into an antagonist during the climax. Mr. Schaeffer is an older man‚ trapped in a “prison” on a farm that is surrounded by woods. The prison being a metaphor for his mind’s lack of freedom‚ serves
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In his writing‚ Richard Rodriguez describes himself as a “scholarship boy”‚ a label he read about in Hoggart’s book‚ The Uses of Literacy. His description of himself and Hoggart’s description of a scholarship boy do seem to align with each other in various ways‚ which Rodriguez points out in his essay. He gives block quotes from Hoggart’s book and then relates those quotes to his own life to show the reader just how much the two descriptions align with each other. Rodriguez uses Hoggart’s book to
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