According to Water Resource Experts, What Are the Two Main

question 1

Multiple Choice

According to water resource experts, what are the two main causes of water waste?

• A) lack of government subsidies for improving the efficiency of water use and ignorance about the amount of water being wasted
• B) low cost of water to users and lack of government subsidies for improving the efficiency of water use
• C) lack of desire to conserve water and knowledge that there is actually enough water on the planet to supply all uses
• D) lack of information about efficient irrigation systems and lack of regulation of water use
• E) There is a single main cause of water waste and it is the lack of regulation of water use.

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Definitions:

Monopolistic Industry

An industry structure characterized by a single producer or a handful of producers who control the majority of the market share, limiting competition.

Single, Unique Product

A product that is the only one of its kind and has no close substitutes in the market.

Blocked Entry

A situation in which new firms are prevented from entering a market due to high barriers to entry, such as high startup costs or strict regulations.

Oligopoly

A market structure characterized by a small number of firms controlling the majority of market share, leading to limited competition.