Resources have value ? Explain
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Resources have value:
- Resources have importance because they are finite and many want them. If nobody needed diamonds otherwise they would be useless.
- And people need air but it's still not scarce on Earth so it similarly has no value.
- The word value indicate that the worth of the resources, some of the resouce are having economic value.
- Yet anything like iron for example is both rare and loved by men. If someone loves something that means they're ready to give up anything for it.
- Since we have private property they can't easily rob people who trust the iron. Since capital offers us a shared currency unit, the individual who has the iron will sell it to someone who values the iron as much as their capital.
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