ECO11, Principles of Economics, Introduction
I’m trying to think through the homework (which reminds me of a riddle – why is a raven like a writing desk?).
When I homeschooled my large family and taught a homeschool coöp, we discussed Austrian economics and read some high-school-level books and watched some of the videos on the Mises Institute website, but this question is challenging.
I’m going through each sub-unit of the intro and jotting down ideas about water and diamonds, however, I live in the desert and could easily imagine an ounce of water being more valued than an ounce of diamond (especially in June, when it can get to 120˚ or hotter), which is either complicating my thought process or helping it; I’m not sure which.
Does anyone have any hints or advice as I work through this question (please, no spoilers)?