Final answer:
Information is valuable today because it aids in decision-making, resource allocation, and society's functioning and progress.
Step-by-step explanation:
Information is considered the most valuable commodity today because it plays a crucial role in decision-making and resource allocation. Firstly, information helps individuals and businesses make informed decisions by providing them with the necessary knowledge and data to evaluate options and weigh the potential outcomes. For example, in a postindustrial society, a person deciding whether to pursue a double major in college would need information about the job market, salary prospects, and future opportunities in both fields to make an informed decision.
Secondly, information impacts decision-making because it aids in resource allocation. Resources are scarce, and decisions must be made regarding how to utilize them efficiently. With access to relevant and reliable information, individuals and organizations can allocate their resources effectively, maximizing their potential benefits and minimizing wasted resources. For instance, the media deciding how many reporters to send to cover an event would need information about the significance of the event, its potential impact, and the expected audience interest to make an informed decision about resource allocation.
Lastly, information is considered a valuable commodity today due to its impact on society's functioning and progress. In a complex and interconnected world, access to accurate information has become vital for individuals, businesses, and governments. It enables them to understand societal issues, make informed decisions, and contribute to the development of their communities.