A note from Daniel

Where there is scarcity of something, its price goes up. For a resource to have economic value, it must be both scarce and desirable. If something is scarce, but no one wants or needs it, then it has no or low value. If something is desirable but not scarce, its value is also low or nonexistent.

Daniel The Great Mental Models, Volume 4, page 13 · December 3, 2024 Save to shelf
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