Discover the Diamond-Water Paradox—why diamonds cost more than water. Learn about subjective value and marginal utility in economic valuation.

Learn how economists measure utility using cardinal and ordinal approaches to understand consumer choices and maximize satisfaction from products and services.

Before we dive in, just know, it’s not just you. I’ve looked through my Pepco bill, internet bill and even my water bill over the past couple of months, and they’ve all risen. And when I say risen, I ...