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The diamond–water paradox questions why diamonds are so much more valuable than water when water is necessary for life. This paradox was answered by the subjective theory of value by realizing that water, in total, is more valuable than diamonds because the first few units are necessary for life.
Any particular unit of water is worth less to people as the supply of water increases. On the other hand, diamonds are in much lower supply. They are of such low supply that the usefulness of one additional diamond is greater than the usefulness of one additional glass of water, which is in abundant supply. Thus, diamonds are worth more to people.
Water pricing is a term that covers various processes to assign a price to water. These processes differ greatly under different circumstances.
Fallingwater is situated in Stewart Township in the Laurel Highlands of southwestern Pennsylvania, United States, [4] [5] about 72 miles (116 km) southeast of Pittsburgh. [6] [7] The house is located near Pennsylvania Route 381 (PA 381), [8] [9] between the communities of Ohiopyle and Mill Run in Fayette County.
[2] [3] Introduced in 1996 as Ice Mountain Spring Water and Glaceau Mineral Water in the United States, it became known as Smart Water in 1998. [4] [5] By 2016, it was one of the top five most sold brands of bottled water in that country [6] with sales worth nearly $830 million in 2017. [7]
The value of Earth, i.e. the net worth of our planet, is a debated concept both in terms of the definition of value, as well as the scope of "Earth". Since most of the planet's substance is not available as a resource, "earth" has been equated with the sum of all ecosystem services as evaluated in ecosystem valuation or full-cost accounting. [1]
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Most water in Earth's atmosphere and crust comes from saline seawater, while fresh water accounts for nearly 1% of the total. The vast bulk of the water on Earth is saline or salt water, with an average salinity of 35‰ (or 3.5%, roughly equivalent to 34 grams of salts in 1 kg of seawater), though this varies slightly according to the amount of runoff received from surrounding land.