Solved: Do you think adam smith statement still holds true, Macroeconomics

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Do you think adam smith statement still holds true

Assignment:

Questions:

1) Explain Adam Smith statement that : "nothing is more useful than water: but it will purchase scarcely anything; scarcely anything can be had in exchange for it." Use the Diamond-Water paradox as an example.

2) Do you think Adam Smith statement still holds true today? Which drivers make water a scarce resource today?

3) Do you think management of water will be a challenging issue in Saudi Arabia within the next few decades?

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