The assessment for this course comprise TWO (2) essay of up to 2500 - 3000 words in length. Choose TWO (2) from the foll

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answerhappygod
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The assessment for this course comprise TWO (2) essay of up to 2500 - 3000 words in length. Choose TWO (2) from the foll

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The assessment for this course comprise TWO (2) essay of up to2500 - 3000 words in length. Choose TWO (2) from the following 3questions.
2. Theoretically, price is determine by the force of marketdemand and supply. However, does it really applicable in todayeconomy, given that information is imperfect in the market?
3. In Adam Smith famous “paradox of value”: “Water has lessvalue in exchange while it is important for survival. On the otherhand, diamond has less value in use but greater value in exchange”.Explain your reasoning for the above statement.
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