Why are diamonds more expensive than water? Pick the statements below that answer this question.
(i) Water is scarcer than diamonds.
(ii) Diamonds are more difficult to mine and produce than water.
(iii) Diamonds are scarcer than water.
(iv) Many more people buy diamonds as compared to water.

Question

Quizplus · Accepted Answer

(i) is not true since water is much more abundant on Earth compared to diamonds. (iv) is not a valid reason for the price difference between diamonds and water.

(ii) is partially true as diamonds are indeed harder to mine and produce compared to water, but it doesn't fully answer the question.

(iii) is the most accurate reason why diamonds are more expensive than water -- diamonds are much rarer and more difficult to find compared to water, which is widely available. (ii) is also partly true in supporting this answer by explaining the difficulty in producing diamonds. Therefore, option C is the correct choice.

Why Are Diamonds More Expensive Than Water? Pick the Statements