
Understanding the Paradox of Value

Interactive Video
•
Business
•
9th - 10th Grade
•
Hard
Jennifer Brown
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What two factors are essential for something to have value according to the video?
Utility and scarcity
Scarcity and abundance
Price and cost
Demand and supply
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is water, a necessity, often cheaper than diamonds?
Because diamonds are easier to obtain than water
Because water is less in demand than diamonds
Because diamonds are more useful than water
Because water is more abundant than diamonds
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the paradox of value primarily compare?
The cost of production and selling price
The abundance and rarity of resources
The utility and scarcity of goods
The needs and wants of consumers
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does scarcity affect the value of a product?
It makes the product more common
It increases the value
It has no effect on the value
It decreases the value
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a perceived value?
The price of a diamond
The utility of a tool
The nutritional value of food
The abundance of water
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