The World Bank Warns That About of the World's Population

question 139

Multiple Choice

The World Bank warns that about of the world's population will face severe water shortages by the year
2025.

• A)5 percent
• B)one-fifth
• C)one-half
• D)two-thirds

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Definitions:

Marginal Social Cost

The complete expense incurred by society for the production of one more unit of a product or service.

Public Park

A piece of public land in urban areas designated for recreational use by the general public, often maintained by local government.

Socially Optimum

A state where resources are allocated in the most efficient way from a societal perspective, maximizing social welfare.

Positive Externality

A benefit that affects a party who did not choose to incur that benefit, often discussed in the context of public goods and services.