Michigan Has an Abundant Supply of Fresh Water

question 142

Multiple Choice

Michigan has an abundant supply of fresh water. However, an economist would consider it a scarce resource because:

• A) water is necessary for human survival.
• B) pollution will eventually destroy all life in the Great Lakes.
• C) water is limited in supply relative to people's unlimited wants.
• D) water commands a very high price.
• E) the cost of supplying water is prohibitively high.

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Definitions:

Election

The formal process of selecting a candidate for office or deciding on a policy issue, typically through the casting of ballots.

Duty of Obedience

The obligation of board members and officers of an organization to follow the organization’s governing statutes and goals, acting within the scope of their authority.

Officers

Individuals appointed or elected to manage and direct the affairs of an organization, typically within corporations, armed forces, or governmental bodies.

Directors

Individuals elected by shareholders to oversee and guide the management and affairs of a corporation.