NEW HERE? LEARN MORE
closeclose
Last visit was: 01 May 2024, 07:20 It is currently 01 May 2024, 07:20
Decision Tracker
My Rewards
New posts
New comers' posts

Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel

Most people believe that gold and platinum are the most valuable

SORT BY:
Date
Kudos
Tags:
Find Similar Topics 
Show Tags
Hide Tags
User avatar
L
Bunuel
Math Expert
Joined: 02 Sep 2009
Posts: 92983
Own Kudos [?]: 620460 [3]
Given Kudos: 81710
Send PM
CAT Tests Forum Quiz Mode
Most people believe that gold and platinum are the most valuable [#permalink] New post   18 Apr 2024, 02:00
3
Bookmarks
Expert Reply
00:00
A
B
C
D
E

Difficulty:

65% (hard)

Question Stats:

48% (01:22) correct 52% (01:23) wrong based on 124 sessions
Hide Show timer Statistics
­Most people believe that gold and platinum are the most valuable commodities. To the true entrepreneur, however, gold and platinum are less valuable than the knowledge of opportunities is. Thus, in the world of high finance, information is the most valuable commodity.

The author of the passage above makes which of the following assumptions?

A. Gold and platinum are not the most valuable commodities.

B. Entrepreneurs are not like most people.

C. The value of information is incalculably high.

D. Information about business opportunities is accurate and leads to increased wealth.

E. Only entrepreneurs feel that information is the most valuable commodity.


­
ShowHide Answer
Official Answer
D
User avatar
S
Shwarma
Intern
Intern
Joined: 10 Sep 2023
Posts: 38
Own Kudos [?]: 29 [1]
Given Kudos: 45
Send PM
CAT Tests
Re: Most people believe that gold and platinum are the most valuable [#permalink] New post   18 Apr 2024, 05:17
1
Kudos
Option D
Conclusion:
High-finance folks ( analogy to true entrepreneurs) value information ( analogy to knowledge of opportunity).
But the assumption is that the information is useful or leads to opportunity else it's useless.
User avatar
D
Nidzo
Director
Director
Joined: 26 Nov 2019
Posts: 811
Own Kudos [?]: 798 [2]
Given Kudos: 58
Location: South Africa
Send PM
GMAT ToolKit User
Most people believe that gold and platinum are the most valuable [#permalink] New post   18 Apr 2024, 05:28
2
Kudos
­A. Gold and platinum are not the most valuable commodities.
The author does not assume this. The author states that to many gold and platinum are the most valuable, while to a true entrepreneur are less valuable than knowledge of opportunities.

B. Entrepreneurs are not like most people.
This answer choice presents a broad comparison which is not the assumption that the author makes. The author only mentions a specific difference between "most people" and "entrepreneurs" - what each finds the most valuable commodity.

C. The value of information is incalculably high.
Nothing in the passage suggests that the author assumes this. The author merely states that to most gold and platinum are the most valusable commodities, while knowledge of opportunities is the most valuable to entrepreneurs. There is no assumption on the calculability of the value of information.

D. Information about business opportunities is accurate and leads to increased wealth.
If the information were to not be accurate and not lead to increased wealth, then the author's entire argument would not hold. Without the information being accurate and, inturn, leading to increased wealth then the information cannot be the most valuable commodity to an entrepreneur.

E. Only entrepreneurs feel that information is the most valuable commodity.
While the author does state that to entrepreneurs knowledge of opportunities is the most valuable commodity, the author does not allude to entrepreneurs being the only ones who feel that this is the case.

ANSWER D
 ­
User avatar
L
unraveled
CEO
CEO
Joined: 07 Mar 2019
Posts: 2559
Own Kudos [?]: 1819 [1]
Given Kudos: 763
Location: India
WE:Sales (Energy and Utilities)
Send PM
Re: Most people believe that gold and platinum are the most valuable [#permalink] New post   18 Apr 2024, 09:11
1
Kudos
Most people believe that gold and platinum are the most valuable commodities. To the true entrepreneur, however, gold and platinum are less valuable than the knowledge of opportunities is. Thus, in the world of high finance, information is the most valuable commodity.

The author of the passage above makes which of the following assumptions?

A. Gold and platinum are not the most valuable commodities. - WRONG. More of an inference.

B. Entrepreneurs are not like most people. - WRONG. Irrelevant.

C. The value of information is incalculably high. - WRONG. So what.!!! Neutral case.

D. Information about business opportunities is accurate and leads to increased wealth. - CORRECT. If not so then conclusion falters.
 
E. Only entrepreneurs feel that information is the most valuable commodity. - WRONG. Not necessarily true. Also, it has no impact on the conclusion.

­IMO Answer D.
GMAT Club Bot
gmatclubot
Re: Most people believe that gold and platinum are the most valuable [#permalink]
18 Apr 2024, 09:11
Moderators:
GMATNinja
GMAT Club Verbal Expert
6923 posts
GMATNinjaTwo
GMAT Club Verbal Expert
238 posts
mysterymanrog
CR Forum Moderator
832 posts

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne
Main navigation
GMAT Resources
Partners
MBA Resources
www.gmac.com|www.mba.com | | GMAT Club Rules | Terms and Conditions