Use the Information Below to Answer the Following Questions

question 38

Multiple Choice

Use the information below to answer the following questions.
Fact 5.3.1
Only 1 percent of the world supply of water is fit for human consumption.Some places have more water than they can use;some could use much more than they have.The 1 percent available would be sufficient if only it were in the right place.
-Refer to Fact 5.3.1.The major problem in achieving an efficient use of the world's water is

• A)the lack of rain in some areas of the world.
• B)water is vital for life.
• C)to get it from the places where it is most abundant to the places in which it has the most valuable uses.
• D)markets in water are controlled by governments or private producers.
• E)the price of water is too low.

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Definitions:

Price-elastic

Describes a situation where the demand for a product is sensitive to price changes.

Home Entertainment System

An array of electronic devices set up in a home to reproduce the experience of watching movies or listening to music in a theater-like setting.

Quaker State Oil

A brand known for producing motor oil and other automotive lubricants and products, with a long history in the United States.

Price-elastic

A product or service is considered price-elastic when its demand significantly changes in response to a change in its price; high elasticity indicates significant changes in demand.