Multiple Choice
Why is water not viewed as your typical "economic good"?
A) The law of supply and demand does not exist when talking about water because you cannot choose what company's water is piped into your house.
B) The price of water that is ultimately set is based on a lot more than just market mechanisms.
C) Social and political factors also shape the cost of tap water (like subsidies for electricity that power pumps) .
D) All of the above.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Which of the following is an example
Q3: What is the best definition of market
Q4: Discuss and explain the problem of bottled
Q5: Which Fast Fact would you use to
Q6: Having reviewed the Fast Facts at the
Q7: Which of the following commodities takes the
Q8: The cost of one cubic meter of
Q9: What is the difference between point and
Q10: Which of the following is an example
Q11: What is Desalinization and what are its