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The more easy it is to obtain and the less necessary a thing is.
True/False

User Mrana
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1 Answer

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Final answer:

True: Economic value is influenced by supply and demand, and essential life-sustaining resources will tend to maintain a higher value due to limited supply. Comparative advantage in an economy can arise from many factors beyond natural resources, including technological expertise and educational levels of workers.

Step-by-step explanation:

The statement 'The more easy it is to obtain and the less necessary a thing is' appears to be incomplete and does not present a verifiable true or false scenario. However, economically speaking, items that are easier to obtain and of lesser necessity might tend to be cheaper due to lower demand and higher supply. Conversely, essential commodities in finite supply such as life-sustaining resources are unlikely to become cheap or free due to principles of supply and demand.

However, in some cases, technological advancements and increased efficiency can reduce the cost of once-expensive activities, such as transportation or manufacturing, making them occupy a smaller portion of an economy's total expenses. In this context, the reallocation of human effort away from producing low-quality or disposable goods could potentially result in needing less income to achieve a good quality of life, should alternative sustainable practices be adopted.

Regarding comparative advantage, it's false to say that it must stem solely from natural elements such as climate and mineral deposits. Comparative advantage can arise from various factors including level of education, technological knowledge, specialized skills, economies of scale, and more, as indicated in the references provided.

User PAStheLoD
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