In Terms of the Total Global Supply of Water, How

question 119

Multiple Choice

In terms of the total global supply of water, how much of it is in circulation at any one time?

• A) none of it
• B) a small percentage
• C) half of it
• D) most of it
• E) impossible to estimate

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Definitions:

Equilibrium Price

This is the price at which the quantity of goods supplied matches the quantity of goods demanded, resulting in market equilibrium.

Demand Curve

A graph depicting the relationship between the price of a good and the quantity demanded by consumers at those prices.

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable by holding other influencing factors constant.

Equilibrium Price

The market price at which the supply of an item equals the demand for the same item.