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In “An Inquiry into the Nature and Causes of the Wealth of Nations” published in 1776, Adam Smith wrote:

“Nothing is more useful than water: but it will purchase scarcely anything… A diamond, on the contrary, has scarcely any use-value; but a very great quantity of other goods may frequently be had in exchange for it”

  • Use your own words and be sure to support your statements with logic and arguments.
  •  Post your initial response early to continue the discussion. Be sure to respond to at least two of your classmates.