Which of the Following Is True of the Availability and Consumption

question 3

Multiple Choice

Which of the following is true of the availability and consumption of water?

• A) Only about 1 percent of the earth's fresh water is available for around 7 billion people.
• B) The world's demand for water has decreased by 20 percent over the last half century.
• C) The average person in the United States uses about 23 gallons of water per day compared with 163 in China.
• D) Industrialized nations use less clean water and pay more for it than the developing world.
• E) The developing world has more access to fresh water than industrialized nations.

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Definitions:

Quantity Supplied

The supply of a product or service that vendors are willing and capable of providing at a specific price during a definite period.

Price

The financial requirement, expectation, or contribution made for the procurement of an item.

Demand

How much of a service or good that individuals are ready and financially capable of buying at several price points over a certain period.

Loanable Funds

The money available for borrowing, which is determined by the savings rate, income levels, and policies affecting interest rates.