Cecilia has studied economics and knows about the value and investment potential of diamonds. The price of diamonds has recently decreased, and a new diamond mine has opened nearby. Cecilia decides to buy a diamond necklace while the prices are lower.

How did Cecilia’s knowledge of economics help her make a savvy commodity purchase?

A. She knew that diamonds are popular and in high demand.
B.She knew that diamonds are a nonrenewable resource, making them scarce.
C.She knew that the cost of diamonds depends only on the demand.
D.She knew that the purchase of diamonds will satisfy wants and needs.

(its not C i got it wrong on Edg. someone help pls)

Question

AngieA AngieA

30-06-2022
Business

contestada

Cecilia has studied economics and knows about the value and investment potential of diamonds. The price of diamonds has recently decreased, and a new diamond mine has opened nearby. Cecilia decides to buy a diamond necklace while the prices are lower.

How did Cecilia’s knowledge of economics help her make a savvy commodity purchase?

A. She knew that diamonds are popular and in high demand.
B.She knew that diamonds are a nonrenewable resource, making them scarce.
C.She knew that the cost of diamonds depends only on the demand.
D.She knew that the purchase of diamonds will satisfy wants and needs.

(its not C i got it wrong on Edg. someone help pls)

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nikitavidya0 nikitavidya0 · Answer 1 · 2022-07-02T09:48:14+02:00

Cecilia’s knowledge of economics help her make a savvy commodity purchase as She knew that the purchase of diamonds will satisfy wants and needs. The correct option is (D).

What is economics?

Economics is the different field of the study which involves in the use of the resources for the generation of the goods and services and selling and distributing it.

Cecilia's understanding of economics enabled her to acquire a wise commodity because she was aware that buying diamonds would meet both her wants and needs. The ideal decision is (D).

Learn more about economics decisions here:

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