Question

Resources have value ? Explain

Answer 1

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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