Which of the Following Statements Is FALSE, with Respect to What

question 398

Multiple Choice

Which of the following statements is FALSE, with respect to what economist Adam Smith called the diamond-water paradox?

• A) The total utility of water greatly exceeds the total utility derived from diamonds.
• B) Total utility does not determine what people are willing to pay for a unit of a particular commodity; marginal utility does.
• C) The demand for water is much smaller than the demand for diamonds.
• D) There are relatively few diamonds, so the marginal utility of the last diamond consumed is relatively high.

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Definitions:

Readiness For Training

The extent to which individuals have the necessary attitude, ability, and motivation to learn from training programs.

Social Support

Assistance and comfort provided by others, which can be emotional, informational, or practical in nature.

New Skills

Abilities and competencies acquired through training or experience that are essential for performing new tasks or duties.

Situational Constraints

Are external factors or conditions that limit or restrict individuals' ability to achieve a task or an objective.